If SGX-ST is of the opinion that:—

(1) a Trading Member has, or may have, insufficient capital for the conduct of its business; or
(2) a review should be carried out in respect of a Trading Member's management policies or business conduct in the interests of the Trading Member, SGX-ST, or markets established or operated by SGX-ST,
SGX-ST may do any or all of the following:—
(a) require the Trading Member to operate its business subject to such restrictions or conditions as SGX-ST decides;
(b) suspend the Trading Member for a period SGX-ST decides. The suspension will be announced to all Trading Members. During the suspension, the Trading Member:—
(i) must not enter into a new transaction without the approval of SGX-ST; and
(ii) remains liable to complete all contracts outstanding at the time of suspension. However, it must not deliver any securities or settle any transaction without the approval of SGX-ST.
(c) require any Director to step down from day-to-day conduct of the business affairs of the Trading Member; and
(d) appoint a Manager to manage the business of the Trading Member. SGX-ST will fix the remuneration of the Manager, which must be paid by the Trading Member. The Trading Member is solely responsible for the Manager's acts and defaults. The Manager must carry out directions given by SGX-ST in relation to the business of the Trading Member, including carrying on the business of the Trading Member in accordance with instructions.