Securities and Futures (Securities Industry Council and Take-over Offers) (Transitional Provisions) Regulations 2001

No. S 673

Securities and Futures Act 2001

(Act 42 of 2001)

In exercise of the powers conferred by section 344 of the Securities and Futures Act 2001, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Securities Industry Council and Take-over Offers) (Transitional Provisions) Regulations 2001 and shall come into operation on 1st January 2002.

Transitional provisions for Part VIII of Act

2. Notwithstanding the provisions of the Act, Part VIII of the Act and the Take-over Code shall not apply to a take-over offer or any matter connected therewith if —

(a)	the take-over offer was made;
(b)	the notice referred to in the repealed section 213(4) of the Companies Act (Cap. 50) was given; or
(c)	an announcement of the take-over offer was made to the public by, or on behalf of, the person making the take-over offer,

at any time before 1st January 2002, and sections 213 and 214 of, and the Tenth Schedule to, the Companies Act (Cap. 50), and the Singapore Code on Take-Overs and Mergers referred to in section 213(18) of the Companies Act in force immediately before that date, shall continue to apply to that take-over offer or matter.

Made this 20th day of December 2001.

KOH YONG GUAN

Managing Director,
Monetary Authority of Singapore.

[FSG/SRDD/024/2000; AG/LEG/SL/288A/2001/1 Vol. 1]