Whole Section

  • 2.16 Change in Control

    • 2.16.1

      A Trading Member must inform SGX-ST in writing as soon as it becomes aware of a formal decision to undertake or proceed with:

      (a) any transaction that will or may result in a change in the legal or beneficial ownership of 20% or more of the Trading Member's issued share capital, and any subsequent increase of 5% or more of the Trading Member's issued share capital; or
      (b) any change that will or may have the effect of altering control of the Trading Member.

      Added on 3 June 20193 June 2019.

    • 2.16.2

      If control of a Trading Member changes, SGX-ST may impose conditions or restrictions on the Trading Member or revoke the Trading Member's trading rights in its absolute discretion, having due regard to, among other things, the financial condition and the fitness and propriety of the Trading Member as described under Rule 2.2.3.

      Added on 3 June 20193 June 2019.

    • 2.16.3

      If SGX-ST revokes the Trading Member's trading rights, the Trading Member may, within 14 days after it is notified of SGX-ST's decision, appeal in writing to the SGX RegCo Board whose decision will be final.

      Added on 3 June 20193 June 2019.