Past version: Effective up to 28 Sep 2011

(1) An issuer must appoint a suitable trustee to represent the holders of its debt securities listed on the Exchange. A trustee corporation under the SFA satisfies this rule.
(2) The trustee must have no interest in or relation to the issuer which may conflict with its role as trustee.
(3) If the trustee ceases to perform its function, the issuer must appoint another suitable trustee.
(4) The directors of the issuer must confirm that a suitable trustee has been appointed. The confirmation must be submitted to the Exchange prior to the issue of the debt securities.
(5) A trust deed governing the issue of debt securities must be executed and contain the requirements in Rule 309.
(6) Rule 308 does not apply to:—
(a) an issuer who has been declared a "prescribed corporation" for the purpose of Section 239(4) of the SFA.
(b) a debt issue that is offered only to sophisticated or institutional investors and is traded in a minimum board lot size of S$200,000 or its equivalent in foreign currencies following listing.
(7) The issuer must make all its financial and other records available for inspection by the trustee and its agent(s).