《证券及期货法》集合投资计划精选条文
本页覆盖《Securities and Futures Act 2001》中《集合投资计划守则》的法源、零售发售限制、新加坡计划授权、境外计划认可及受限计划豁免框架。
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Code and offer restriction / 守则与发售限制
SG-SFA284.—(1) For the more effective administration, supervision and control of collective investment schemes, the Authority may, under section 321, issue a code, to be known as the Code on Collective Investment Schemes.
284.—(1) 为更有效地管理、监督及管控集合投资计划，监管局可根据第321条发布一套守则，称为《集合投资计划守则》。
SG-SFA(2) The Authority may revise the Code on Collective Investment Schemes by deleting, amending or adding to the provisions thereof. (3) The Code on Collective Investment Schemes is deemed not to be subsidiary legislation.
(2) 监管局可通过删除、修订或增补条文的方式修订《集合投资计划守则》。(3) 《集合投资计划守则》不视为附属法例。
SG-SFA285.—(1) A person must not make an offer of units in a collective investment scheme if the collective investment scheme has not been authorised under section 286 or recognised under section 287.
285.—(1) 集合投资计划如未根据第286条获授权或根据第287条获认可，任何人不得发售该计划的单位。
SG-SFA(2) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part of a day during which the offence continues after conviction.
(2) 任何人违反第(1)款，即构成犯罪，定罪后可处不超过150,000新加坡元罚款或不超过2年监禁，或两者并处；如属持续犯罪，在定罪后犯罪持续的每一日或不足一日，另处不超过15,000新加坡元罚款。
Singapore-authorised schemes / 新加坡获授权计划
SG-SFA286.—(1) The Authority may, upon an application made to the Authority in such form and manner as may be prescribed by regulations made under section 341, authorise a collective investment scheme constituted in Singapore, subject to — (a) subsection (2) or (2A), as the case may be; (b) the conditions specified in subsection (3); and (c) such conditions or restrictions as the Authority thinks fit to impose by written notice.
286.—(1) 监管局可在收到按第341条规例所订形式及方式提出的申请后，授权在新加坡组成的集合投资计划，但须受以下规限：(a) 视情况适用第(2)或(2A)款；(b) 第(3)款所订条件；及 (c) 监管局认为适当并以书面通知施加的条件或限制。
SG-SFA(2) The Authority may authorise, under subsection (1), a collective investment scheme which is constituted as a unit trust if and only if the Authority is satisfied that — (a) there is a manager for the scheme which satisfies the requirements in subsection (3); (b) there is a trustee for the scheme approved under section 289; (c) there is a trust deed in respect of the scheme entered into by the manager and the trustee for the scheme that complies with prescribed requirements; and (d) the scheme, the manager for the scheme and the trustee for the scheme comply with this Act and the Code on Collective Investment Schemes.
(2) 仅在监管局确信以下条件均获满足时，方可根据第(1)款授权以单位信托形式组成的集合投资计划：(a) 计划设有符合第(3)款要求的管理人；(b) 计划设有根据第289条获批准的受托人；(c) 管理人与受托人已就计划订立符合订明要求的信托契据；及 (d) 计划、管理人及受托人均遵守本法及《集合投资计划守则》。
SG-SFA(2A) The Authority may authorise under subsection (1) a collective investment scheme constituted as a VCC or a sub-fund, if and only if the Authority is satisfied that — (a) there is a manager for the scheme that satisfies the requirements in subsection (3); (b) there is a custodian for the scheme that is a trustee approved under section 289; (c) the constitution of the VCC and contractual arrangements in respect of the scheme comply with prescribed requirements and the Variable Capital Companies Act 2018; (d) there are at least 3 directors of the VCC, at least one of whom is independent in accordance with the criteria set out in the Code on Collective Investment Schemes; and (e) the VCC, the scheme, the manager for the scheme and the custodian for the scheme comply with this Act and the Code on Collective Investment Schemes.
(2A) 仅在监管局确信以下条件均获满足时，方可根据第(1)款授权以VCC或子基金形式组成的集合投资计划：(a) 计划设有符合第(3)款要求的管理人；(b) 计划设有保管人，且该保管人为根据第289条获批准的受托人；(c) VCC章程及计划相关合同安排符合订明要求及《2018年可变资本公司法》；(d) VCC至少有3名董事，其中至少1名按《集合投资计划守则》标准属独立董事；及 (e) VCC、计划、管理人及保管人均遵守本法及《集合投资计划守则》。
SG-SFA(10) The responsible person for a collective investment scheme authorised under subsection (1) and either — (a) the approved trustee for the scheme if it is one constituted as a unit trust; or (b) the custodian for the scheme if it is one constituted as a VCC or sub-fund, to the extent applicable, must ensure that — (c) every condition or requirement set out in subsection (2) or (2A) (as the case may be), and subsections (3) and (4); and (d) every condition or restriction imposed by the Authority under subsection (1)(c) or (1A), as applicable to that scheme, continue to be satisfied.
(10) 根据第(1)款获授权之集合投资计划的责任人，以及在适用范围内：(a) 如计划以单位信托形式组成，该计划的获批准受托人；或 (b) 如计划以VCC或子基金形式组成，该计划的保管人，必须确保：(c) 第(2)或(2A)款（视情况而定）以及第(3)及(4)款所列每项条件或要求；及 (d) 监管局根据第(1)(c)或(1A)款施加并适用于该计划的每项条件或限制，持续获满足。
SG-SFA(11) Despite subsection (10), a failure by any person to comply with the Code on Collective Investment Schemes does not of itself render that person liable to criminal proceedings but such failure may, in any proceedings whether civil or criminal, be relied upon by any party to the proceedings as tending to establish or to negate any liability which is in question in the proceedings.
(11) 尽管有第(10)款，任何人未遵守《集合投资计划守则》本身不会令其承担刑事法律责任；但在任何民事或刑事程序中，任何一方均可援引该未遵守事项，作为倾向于确立或否定程序中所涉责任的依据。
Foreign recognised schemes / 境外获认可计划
SG-SFA287.—(1) The Authority may, upon an application made to the Authority in such form and manner as may be prescribed by regulations made under section 341, recognise a collective investment scheme constituted outside Singapore, subject to — (a) subsection (2); (b) the conditions specified in subsection (3); and (c) such conditions or restrictions as the Authority thinks fit to impose by written notice.
287.—(1) 监管局可在收到按第341条规例所订形式及方式提出的申请后，认可在新加坡境外组成的集合投资计划，但须受以下规限：(a) 第(2)款；(b) 第(3)款所订条件；及 (c) 监管局认为适当并以书面通知施加的条件或限制。
SG-SFA(2) In determining whether to recognise a collective investment scheme under subsection (1), the Authority may have regard to the following factors: (a) whether the laws and practices of the jurisdictions under which the scheme is constituted and regulated affords to investors in Singapore protection at least equivalent to that provided to them by or under this Division in the case of comparable authorised schemes; (b) such other criteria as may be prescribed by regulations made under section 341.
(2) 监管局决定是否根据第(1)款认可集合投资计划时，可考虑以下因素：(a) 计划组成及受监管所在辖区的法律和惯例，是否向新加坡投资者提供至少相当于本分部就可比获授权计划所提供的保障；及 (b) 根据第341条规例订明的其他标准。
SG-SFA(3) Unless otherwise notified in writing by the Authority to the responsible person of the collective investment scheme, the following conditions must be satisfied for the recognition of every collective investment scheme under subsection (1): (a) there is a manager for the scheme that — (i) is licensed or regulated in the jurisdiction of its principal place of business; and (ii) is a fit and proper person in the opinion of the Authority, and in considering if a person is a fit and proper person, the Authority may take into account any matter relating to — (A) any person who is or will be employed by or associated with the manager; (B) any person exercising influence over the manager; or (C) any person exercising influence over a related corporation of the manager; (b) there is a representative for the scheme for the functions set out in subsection (13) who is — (i) an individual resident in Singapore; or (ii) a company, or a foreign company registered under Division 2 of Part 11 of the Companies Act 1967; (c) the scheme, the manager for the scheme and (where applicable) the trustee for the scheme comply with this Act and the Code on Collective Investment Schemes; and (d) the responsible person for the collective investment scheme furnishes to the Authority — (i) the name of the representative mentioned in paragraph (b) and the representative’s address (where such representative is a corporation) or contact particulars (where such representative is an individual); and (ii) any information prescribed by regulations made under section 341.
(3) 除非监管局另以书面通知该集合投资计划的责任人，否则根据第(1)款认可每项集合投资计划须满足以下条件：(a) 计划设有管理人，而该管理人：(i) 在其主要营业地所在辖区获许可或受监管；及 (ii) 经监管局认为属于适当人选；监管局考虑某人是否属于适当人选时，可考虑与下列人士有关的任何事项：(A) 受雇于管理人、将受雇于管理人或与管理人有关联的任何人士；(B) 对管理人施加影响的任何人士；或 (C) 对管理人的关联法团施加影响的任何人士；(b) 计划设有一名执行第(13)款所列职能的代表，而该代表为：(i) 居于新加坡的个人；或 (ii) 公司，或根据《1967年公司法》第11部第2分部登记的外国公司；(c) 计划、计划管理人及（如适用）计划受托人遵守本法及《集合投资计划守则》；及 (d) 集合投资计划的责任人向监管局提供：(i) (b)项所述代表的姓名或名称，以及该代表的地址（如代表为法团）或联络资料（如代表为个人）；及 (ii) 根据第341条规例订明的任何资料。
SG-SFA(13) The representative for a collective investment scheme which is recognised under subsection (1) must carry out, or procure the carrying out of the following functions: (a) facilitate — (i) the issuing and redeeming of units in the scheme; (ii) the publishing of sale and purchase prices of units in the scheme; (iii) the sending of reports of the scheme to participants; (iv) the provision of such books relating to the sale and redemption of units as the Authority may require; and (v) the inspection of the instruments constituting the scheme; (b) either maintain for inspection in Singapore a subsidiary register of participants who subscribed for or purchased their units in Singapore, or maintain in Singapore any facility that enables the inspection or extraction of the equivalent information; (c) within 14 days after any change in the particulars referred to in subsection (3)(d), give written notice of such change to the Authority; (d) provide such information or record regarding the scheme as the Authority may, at any time, require for the proper administration of this Act; (e) such other functions as the Authority may prescribe.
(13) 根据第(1)款获认可之集合投资计划的代表，须执行或促使执行以下职能：(a) 协助：(i) 发行及赎回计划单位；(ii) 发布计划单位的买卖价格；(iii) 向参与人发送计划报告；(iv) 提供监管局可能要求的有关单位出售及赎回的账册；及 (v) 查阅组成计划的文书；(b) 在新加坡维持一份参与人分册供查阅，该分册载有在新加坡申购或购买单位的参与人；或在新加坡维持任何设施，使同等资料可供查阅或提取；(c) 第(3)(d)款所述资料发生任何变更后14日内，以书面通知监管局；(d) 提供监管局为适当施行本法而随时可能要求的有关计划资料或记录；(e) 监管局可能订明的其他职能。
Restricted schemes / 受限计划
SG-SFA305.—(1) Except to such extent and with such modifications as the Authority may prescribe, Subdivisions (2) and (3) of this Division do not apply to an offer of units in a collective investment scheme (called in this section a restricted scheme), where the offer is made to a relevant person, if the conditions in subsection (3) are satisfied.
305.—(1) 在监管局订明的范围及变通规限下，如向有关人士发售集合投资计划（本条称为受限计划）单位，且第(3)款条件获满足，则本分部第(2)及(3)小分部不适用。
SG-SFA(2) Except to such extent and with such modifications as the Authority may prescribe, Subdivisions (2) and (3) of this Division do not apply to an offer of units in a collective investment scheme (also called in this section a restricted scheme) to a person who acquires the units as principal if the offer is on terms that the units may only be acquired at a consideration of not less than $200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is to be paid for in cash or by exchange of units in a collective investment scheme, securities, securities-based derivatives contracts or other assets, and if the conditions in subsection (3) are satisfied.
(2) 在监管局可能订明的范围及变通规限下，如向以主事人身份取得单位的人士发售集合投资计划（本条亦称为受限计划）单位，且发售条款规定每宗交易的单位只可以不少于200,000新加坡元（或等值外币）的对价取得，不论该金额以现金支付，或以交换集合投资计划单位、证券、证券型衍生品合约或其他资产的方式支付，并且第(3)款条件获满足，则本分部第(2)及(3)小分部不适用。
SG-SFA(3) The conditions referred to in subsections (1) and (2) are — (a) the offer is not accompanied by an advertisement making an offer or calling attention to the offer or intended offer; (b) no selling or promotional expenses are 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 any of the persons specified in section 302B(1)(d)(i), (ii), (iii), (iv), (v) and (vi); and (c) no prospectus in respect of the offer has been registered by the Authority or, where a prospectus has been registered — (i) the prospectus has expired pursuant to section 299; or (ii) the person making the offer has before making the offer — (A) informed the Authority by written notice of its intent to make the offer in reliance on the exemption under this subsection; and (B) taken reasonable steps to inform in writing the person to whom the offer is made that the offer is made in reliance on the exemption under this subsection.
(3) 第(1)及(2)款所述条件为：(a) 发售并无附带作出发售或引起对该发售或拟议发售注意的广告；(b) 除因行政或专业服务产生的费用，或向第302B(1)(d)(i)、(ii)、(iii)、(iv)、(v)及(vi)条所列任何人士支付的服务佣金或费用外，并无就该发售支付或产生销售或推广费用；及 (c) 监管局未就该发售登记招股说明书；或如已登记招股说明书，则：(i) 该招股说明书已根据第299条失效；或 (ii) 作出发售的人士在发售前：(A) 已书面通知监管局其拟依赖本款豁免作出发售；及 (B) 已采取合理步骤，以书面通知受要约人该发售依赖本款豁免作出。