Securities and Futures (Offers of Investments) (Exemption for Smp Share Purchase Plan) Regulations 2006

No. S 344

Securities and Futures Act

(Chapter 289)

Securities and Futures (Offers of Investments) (Exemption for Smp Share Purchase Plan) Regulations 2006

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

Citation and commencement

1.  These Regulations may be cited as the Securities and Futures (Offers of Investments) (Exemption for SMP Share Purchase Plan) Regulations 2006 and shall come into operation on 16th June 2006.

Definition

2.  In these Regulations, “SMP Share Purchase Plan” means the Chartered Semiconductor Manufacturing Ltd. Share Purchase Plan 2004 for employees of Silicon Manufacturing Partners Pte. Ltd.

Exemption

3.—(1)  Subject to paragraph (2), Chartered Semiconductor Manufacturing Ltd. is exempted from Subdivision (2) of Division 1 of Part XIII of the Act (other than section 257) in respect of its offer of securities or securities‑based derivatives contracts to the employees of Silicon Manufacturing Partners Pte. Ltd. under the SMP Share Purchase Plan.

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(2)  The exemption under paragraph (1) is subject to the following conditions:

(a) no selling or promotional expenses are to be 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 holder of a capital markets services licence to deal in capital markets products that are securities or securities‑based derivatives contracts; or

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(ii) an exempt person in respect of dealing in capital markets products that are securities or securities‑based derivatives contracts; and

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(b) Chartered Semiconductor Manufacturing Ltd. holds at least 49% of the shares in Silicon Manufacturing Partners Pte. Ltd.

Made this 14th day of June 2006.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[SFD CFD 015/2004; AG/LEG/SL/289/2005/2 Vol. 1]