Securities and Futures (Offers of Investments) (Exemption for AIA Agency Share Purchase Plan 2021) Regulations 2021

Status:

Not current version
(version history — see timeline)

No. S 100

Securities and Futures Act

(CHAPTER 289)

Securities and Futures
(Offers of Investments)
(Exemption for AIA Agency Share
Purchase Plan 2021)
Regulations 2021

In exercise of the powers conferred by section 337(1) of the Securities and Futures Act, the Monetary Authority of Singapore makes the following Regulations:

Citation and commencement

1. These Regulations are the Securities and Futures (Offers of Investments) (Exemption for AIA Agency Share Purchase Plan 2021) Regulations 2021 and come into operation on 17 February 2021.

Definitions

2. In these Regulations —

“AIA Agency Share Purchase Plan 2021” means the AIA Group Limited Agency Share Purchase Plan adopted by the Company on 1 February 2021 for the agents of —

(a)	the Company; and
(b)	any subsidiary of the Company;

“Company” means AIA Group Limited.

Exemption

3.—(1) Subject to paragraph (2), Subdivision (2) of Division 1 of Part 13 (other than section 257) of the Act does not apply in relation to an offer of shares by the Company under the AIA Agency Share Purchase Plan 2021 to the agents of —

(a)	the Company; and
(b)	any subsidiary of the Company.

[S 715/2023 wef 31/12/2021]

(2) The exemption under paragraph (1) only applies if —

(a)

the Company gives to any person to whom the Company makes the offer, a written statement that —

(i)	the offer is made in reliance on an exemption granted by the Authority pursuant to these Regulations; and
(ii)	the offer is not made in, or accompanied by, a prospectus that is registered by the Authority; and

(b)

no selling or promotional expenses are paid or incurred in connection with the offer other than those incurred for administrative or professional services, or by way of commission or fee for services, rendered by —

(i)	a person who holds, or is exempted from the requirement to hold, a capital markets services licence to carry on business in the regulated activity of dealing in capital markets products that are securities or securities‑based derivatives contracts; or
(ii)	a person who is licensed, approved, authorised or otherwise regulated (or who is exempted from such regulation) under the laws, codes or other requirements of any foreign jurisdiction for dealing in capital markets products that are securities or securities‑based derivatives contracts.

Made on 16 February 2021.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[CFC CFI SHS/2021/03 PT 2; AG/LEGIS/SL/289/2020/18 Vol. 1]

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