Whole Section

  • 6.11 Resignation

    • 6.11.1 Procedures

      (a) A Designated Market-Maker who intends to resign from making a market for a Specified Instrument must give at least 30 days' written notice to SGX-ST, stating the proposed date of resignation. SGX-ST may vary or waive the notice period. SGX-ST will notify all Designated Market-Makers and Trading Members of the effective date of resignation.
      (b) A Designated Market-Maker must continue to comply with any Rule applicable to Designated Market-Makers as may be imposed by SGX-ST until the effective date of resignation.

      Added on 3 June 20193 June 2019.

    • 6.11.2 Acceptance of Resignation by SGX-ST

      (a) SGX-ST shall have the absolute discretion to accept the resignation, postpone the effective date of the resignation and/or without prejudice to the courses of action available to SGX-ST, take such measures as it may determine appropriate before or after the resignation takes effect. Notwithstanding the foregoing, SGX-ST may in its absolute discretion refuse to accept the resignation of a Designated Market-Maker if it is:
      (i) conducting an investigation under the Rules, investigating a complaint, or has initiated disciplinary proceedings against the Designated Market-Maker; or
      (ii) not satisfied that the Designated Market-Maker has fulfilled or is able to fulfil all its obligations to SGX-ST.
      (b) If SGX-ST accepts a Designated Market-Maker's resignation, the Designated Market-Maker's name will be deleted from the register of Designated Market-Makers upon the effective date of resignation.

      Added on 3 June 20193 June 2019.