An Approved Executive Director will automatically cease to be registered as an Approved Executive Director if he or she:—
(1) becomes of unsound mind;
(2) is made bankrupt, whether in or out of Singapore;
(3) is disqualified from holding office as a Director under the Securities and Futures Act or the Companies Act (Cap. 50);
(4) ceases to be an Executive Director of the Trading Member;
(5) is subject to a compromise or scheme of arrangement with his or her creditors, whether in or out of Singapore;
(6) has execution in respect of a judgment debt returned unsatisfied in whole or in part; or
(7) breaches any provision involving fraud or dishonesty, whether in or out of Singapore.