Summary of Amendments to the Revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors

SUMMARY OF AMENDMENTS
REVISED GUIDELINES ON ISSUANCE OF CORPORATE BONDS AND SUKUK TO RETAIL INVESTORS (Date of Issuance: 28 November 2022) The following table provides a summary of key amendments to the revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors (Guidelines) issued on 28 November 2022:
A. Overview

1. The Guidelines was revised to reflect changes consequent upon issuance of Guidelines on Islamic Capital Market Products and Services
   (ICMPS Guidelines). The key amendments relate to the removal of the relevant Shariah requirements as these are now provided under the ICMPS Guidelines.
2. Editorial amendments to enhance clarity of certain requirements under the Guidelines.
   B. Amendment Highlights
   No. Prior to 28 November 2022
   Revised Version Dated
   28 November 2022
   Comments
   PART A: GENERAL
   Chapter 2: Definitions
3. Paragraph 1.07 Paragraph 1.07 Amended to prescribe compliance with ICMPS
   Guidelines in relation to Islamic capital market product.
4. Paragraph 2.01 Paragraph 2.01 Deleted definitions on sukuk bai’ bithaman ajil,
   sukuk ijarah, sukuk istisna’, sukuk mudharabah, sukuk murabahah, sukuk musharakah and sukuk wakalah bi al-istithmar pursuant to incorporation into ICMPS Guidelines. Inserted new definition of “Shariah adviser”.

Summary of Amendments to the Revised Guidelines on Corporate Bonds and Sukuk to Retail Investors (9thRevision) B. Amendment Highlights No. Prior to 28 November 2022 Revised Version Dated 28 November 2022 Comments
PART B: REQUIREMENTS FOR ISSUANCE OF CORPORATE BONDS AND SUKUK
Chapter 8: Utilisation of Proceeds
3. Paragraph 8.02 - Deleted pursuant to incorporation into ICMPS
Guidelines.
PART C: APPROVAL FOR ISSUANCE OF CORPORATE BONDS AND SUKUK
Chapter 13: Revision to Principal Terms and Conditions
4. Paragraphs 13.15 and 13.16 - Deleted pursuant to incorporation into ICMPS
Guidelines.
PART D: ADDITIONAL SHARIAH REQUIREMENTS FOR SUKUK
6. Chapters 15, 16, 17, 18 and 19 - Deleted pursuant to incorporation into ICMPS
Guidelines.
APPENDICES
11. Appendix 1, Part 1: Application Appendix 1, Part 1: Application, Item
1.07A
Inserted the requirement to submit compliance checklist with ICMPS Guidelines to the SC.
12. Appendix 1, Part 3: Declaration by Issuer Appendix 1, Part 3: Declaration by
Issuer, Item 3(b)
Inserted reference to ICMPS Guidelines.

Summary of Amendments to the Revised Guidelines on Corporate Bonds and Sukuk to Retail Investors (9thRevision) B. Amendment Highlights No. Prior to 28 November 2022 Revised Version Dated 28 November 2022 Comments
13. Appendix 2, Item 1.04 Appendix 2, Item 1.04 Amended the timeline on confirmation from the
Shariah adviser.
14. Appendix 3, Item 1.04 Appendix 3, Item 1.04 Amended the requirement to submit copy of
letter in relation to revision endorsed by the SAC to the SC.
Inserted the requirement to submit confirmation from the Shariah adviser to the SC.
15. Appendix 6 - Deleted pursuant to incorporation into ICMPS
Guidelines.
16. Appendix 7 - Deleted pursuant to incorporation into ICMPS
Guidelines.