In light of recent market developments and evolving international practices, the Securities Industry Council of Singapore had, on 6 July 2015, issued a Consultation Paper proposing amendments to the Singapore Code on Takeovers and Mergers to: (i) provide greater certainty on the applicable procedures and timelines for competitive takeover offer situations, (ii) provide additional guidance on board conduct during an offer and rules for timely disclosure, and (iii) codify and streamline existing practices.