(A) whose net personal assets* exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount; or
(B) whose financial assets (net of any related liabilities) exceed in value $1 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount, where “financial asset” means –
(BA) a deposit as defined in section 4B of the Banking Act;
(BB) an investment product as defined in section 2(1) of the Financial Advisers Act; or
(BC) any other asset as may be prescribed by regulations made under section 341; or
(C) whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;
(A) the most recent audited balance sheet of the corporation; or
(B) where the corporation is not required to prepare audited accounts regularly, a balance sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance sheet, which date shall be within the preceding 12 months;
3. the trustee of such trust as the Authority may prescribe, when acting in that capacity; or
* In determining the value of an individual's net personal assets for the purposes of subsection (1)(A), the value of the individual's primary residence -
(a) is to be calculated by deducting any outstanding amounts in respect of any credit facility that is secured by the residence from the estimated fair market value of the residence; and
(b) is taken to be the lower of the following:
(i) the value calculated under paragraph (a);
(ii) $1 million.
The definitions may be subject to such modifications as the Authority may prescribe for any specified provision of this Act.
I confirm that I am an “Accredited Investor”, “Institutional Investor” or “Expert Investor” as defined under the Securities and Futures Act (Chapter 289) and Securities and Futures (Classes of Investors) Regulations 2018 of Singapore and qualify as such under one of the categories.