As described under Section 4A of the Securities and Futures Act, an institutional investor is:

i. a bank that is licensed under the Banking Act (Cap. 19);

ii. a merchant bank that is approved as a financial institution under Section 28 of the Monetary Authority of Singapore Act (Cap. 186);

iii. a finance company that is licensed under the Finance Companies Act (Cap. 108);

iv. a company or co-operative society that is licensed under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;

v. a company licensed under the Trust Companies Act 2005 (Act 11 of 2005);

vi. the Government;

vii. a statutory body established under any Act;

viii. a pension fund or collective investment scheme;

ix. the holder of a capital markets services license for:

a. dealing in securities;

b. fund management;

c. providing custodial services for securities;

d. real estate investment trust management;

e. securities financing, or;

f. trading in futures contracts

x. a person (other than an individual) who carries on the business of dealing in bonds with accredited investors or expert investors;

xi. the trustee of such trust as the Authority may prescribe, when acting in that capacity, or;

xii. such other person as the Authority may prescribe

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