| 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. [S 632/2018 wef 08/10/2018] (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 [S 632/2018 wef 08/10/2018] | | (ii) | an exempt person in respect of dealing in capital markets products that are securities or securities‑based derivatives contracts; and [S 632/2018 wef 08/10/2018] |
| | (b) | Chartered Semiconductor Manufacturing Ltd. holds at least 49% of the shares in Silicon Manufacturing Partners Pte. Ltd. |
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