On 26/05/2013,
you requested for the version in force on 26/05/2013
incorporating all amendments published on or before 26/05/2013.
The closest version currently available is that of 13/08/2007.
24. The Schedule to the principal Act is amended ––
(a)
by deleting sub-paragraph (d) of paragraph 1; and
(b)
by deleting paragraph 2 and substituting the following paragraph:
“2. In this Schedule, “accredited investor” means —
(a)
an individual —
(i)
whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Board may prescribe in place of the first amount; or
(ii)
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 Board may prescribe in place of the first amount;
(b)
a corporation with net assets exceeding $10 million in value (or its equivalent in a foreign currency) or such other amount as the Board may prescribe, in place of the first amount, as determined by —
(i)
the most recent audited balance-sheet of the corporation; or
(ii)
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;
(c)
the trustee of such trust as the Board may prescribe, when acting in that capacity; or
(d)
such other person as the Board may prescribe.”.