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W 057/08 OSR — China Securities and Surveillance Technology, Inc

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WAIVER AND MODIFICATION NOTICE

To China Securities and Surveillance Technology, Inc
Address Mr Terence Yap
Vice Chairman and CFO
China Securities and Surveillance Technology, Inc
C-/
Mac Capital Limited
Suite 115, Building 4, Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723,
DUBAI, U.A.E
DFSA Firm Reference No. F000966
Notice No. W57/2008

THE DFSA HEREBY GIVES NOTICE THAT:

1. The Rules specified in Table A herein do not apply to the above mentioned Person.

AND

2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

RULES WAIVED

TABLE A
Rulebook Module Rule
OSR A2.2.1 Item 3, A3.1.1 Item 2, A3.1.1 Item 7 and A3.1.1 Item 11

RULES MODIFIED

The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table accordingly. In this notice Table B shows only those items that have been modified. The remaining items are unaltered and remain in force.

TABLE B
Rule Modified Text
OSR A 3.1.1, Item 1
Event Threshold for decision Shares Certificates Over Shares
An alteration of the constitutional documents of the Reporting Entity including any alteration to the memorandum of association, articles of association, bye-laws or any other instrument constituting the Reporting Entity. Majority or in accordance with the Issuer’s Bylaws and the relevant US statute. X X
OSR A3.1.1, Item 6.
Event Threshold for decision Shares Certificates Over Shares
The granting of Share components to the Issuer’s Directors’ or Employees’ compensation schemes. Majority or in accordance with the Issuer’s Bylaws and the relevant US statute. X X
OSR A3.1.1, Item 6.
Event Threshold for decision Shares Certificates Over Shares
The granting of authority to the Governing Body of the Issuer to allot Shares. Majority or in accordance with the Issuer’s Bylaws and the relevant US statute. X X

CONDITIONS

1. The Issuer must retain its primary listing on NYSE and continues to be subject to the NYSE Listing Rules as amended or waived or modified from time to time.

If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person in the form set out in the applicable module of the Rulebook in force at the relevant time.

EFFECTIVE PERIOD

This notice comes into effect on the date that ordinary Shares of China Securities and Surveillance Technology, Inc. are admitted to the Official List of Securities of the Dubai International Financial Exchange and remains in force until further notice.

INTERPRETATION

The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

THIS NOTICE WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

Name : Michael Zamorski
Position : Acting Chief Executive
DATE OF ISSUE: 2nd September 2008