Regulations for Offers of Business Trusts

Exemption from requirements for offers of business trusts

Registration and prospectus requirements may be exempted under certain criteria. 

According to MAS (Pages)

Exempted Offers
Registration of a BT and prospectus registration requirements do not apply to certain offers of units in or derivatives of units in a BT (“exempted offers ”). These offers include:

  • Offers where the minimum transaction amount is S$200,000
  • Small Offers – Total amount raised is S$5 million or less in 12 months
  • Private Placement – Offers made to no more than 50 persons in 12 months
  • Offers targeted at accredited or institutional investors

Exempted Offers are subject to certain conditions, e.g., no advertising, and specific disclosures to investors. You may refer to Subdivision 4 of Division 1, Part 13 of the Securities and Futures Act 2001 for more information.