Regulatory Alerts2021-01-01
Securities (Exemption) Rules 2021
The Financial Services Commission issued the Securities (Exemption) Rules 2021 to exempt specific entities from designated provisions of the Securities Act. Closed-end funds authorized as real estate investment trusts are exempt from Section 88 of Part V, while crowdfunding licence holders receive a blanket exemption from all provisions. These exemptions commenced on 4 September 2021 and apply to the categories of persons specified in the accompanying schedule.
2170 Government Notices 2021 Government Notice No. 221 of 2021 THE SECURITIES ACT FSC Rules made by the Financial Services Commission under section 155 of the Securities Act
- These Rules may be cited as the Securities (Exemption) Rules 2021.
- In these Rules – “REIT” has the same definition as in the Securities (Real Estate Investment Trusts) Rules 2021
- The provisions of the Securities Act referred to in the second column of the Schedule shall not apply to such categories of person listed in the first column of the Schedule.
- These Rules shall come into operation on 04 September 2021. Made by the Financial Services Commission on 04 September
Government Notices 2021 2171 SCHEDULE (Rule 3) Categories of persons Provisions of the Securities Act which are not applicable Closed- end Fund authorised as a REIT Part V, section 88 A holder of a crowdfunding licence issued by the Financial Services Commission under the Financial Services Act All provisions