Unless expressly provided to the contrary, all questions concerning the interpretation or application of or any other matter in connection with these Clearing Rules (including, without limitation, CDP Directives) shall be determined by CDP, whose decision shall be final and binding on all parties. ↑ 37 the FRS, IFRS or US GAAP). This rule will be come into effect on 1 January 2022. Actionable . A company with a secondary listing on the SGX Mainboard must, on a continuing basis, maintain its listing on its home exchange, be subject to all the applicable listing rules of its home exchange (unless a waiver has been obtained for any non-compliance) and provide an annual certification in the form prescribed in the listing rules that it has . Find out more about listing on SGX Catalist that caters to the needs of fast-growing enterprises, including the full list of sponsors. Board Matters Chapter 2 Equity Securities 210 An issuer applying for listing of its equity securities on the SGX Mainboard must meet the following conditions:— (5) Directors and Management Main Board Listing Rules. General principles form, as such, a substratum of law, which helps in interpreting human rights law and international law in general. Takeover Guide to Singapore. 7 Rule 210(5)(c) of the SGX Listing Rules (Mainboard) / Rule 406(3)(c) of the SGX Listing Rules (Catalist) requires independent directors to make up at least one-third of the Board. Definitions and Interpretation; Chapter 1 Introduction. Name) Sin Kwong Wah Andrew Designation CEO Part VI Liability of SGX-ST. Chapter 2 Equity Securities. Copies of the Ground Rules are available from FTSE Russell on the website www.ftserussell.com. It is an alternative to sgx_is_capable() when more information about the status of Intel SGX is desired. The SGX has implemented a new framework allowing issuers with a dual class structure to be listed on the mainboard of the SGX. ↑ 36: See Collison, supra note 27. SGX is also limiting the voting rights of MV shares to a maximum of 10 votes per share, and issuers must set out the voting rights of its MV shares clearly in its Constitution. Rule 6C — Payments. MAS had also proposed to allow for variances from Principles 11 and 12 of the CG Code, if these Principles are not relevant in the context of the ownership structure of non-listed FIs. Part III Application of Listing Rules. PROPOSED TRANSFER OF LISTING FROM THE MAINBOARD TO THE CATALIST BOARD OF . The SGX-ST reviews applications for admission to the mainboard. Chapter 3 Authorised Representatives, Directors, Board Committees and Company Secretary. 1.2.1; 1.3 Regard to be had to Purpose or Object of the Clearing Rules; 1.4 General Principles of Interpretation; 1.5 Headings; 1.6 Examples; 1.7 Rules to Prevail; 1.8 Clearing Directives; 1.9 Transitional . But the work is voluminous given the many principles and provisions of the code. Make will build a target's prerequisites prior to building the target. Indeed, where there is no Singapore authority specifically on point, it will . SG Value Investor. The SGX-ST operates the Mainboard and the Catalist in accordance with the SGX-ST Listing Manual and Catalist Rules, respectively, which set out the requirements that apply to issuers, the manner . The SGX-ST and the Listing Rules . 103. Practice Note 7.6 of the SGX-ST Listing Rules sets out guiding principles for the preparation, structure and content of the sustainability report. Such offers can take many forms, each subjected to differing conditions. Shift of important requirements compliance with the substance of the Code to the SGX LR for mandatory compliance. 1.2. Name) Sin Kwong Wah Andrew Designation CEO Rule 10 — Liabilities; Rule 11 — Supervisory Rules; Rule 12 — Foreign Market Links; Rule 13 — General; Rule 14 — Transitional Provisions; Appendices; Regulatory Notices to CDP Clearing Rules; Practice Notes; Schedules; CDP Settlement Rules; DVP Rules [Entire Rulebook has been deleted] CDP Depository Rules; Futures Trading Rules; SGX . Chapter 3A Sponsors and Compliance Advisers. In 2019, there were 11 IPOs of equity securities on the SGX-ST raising a total of approximately S$3.13 billion, with four new listings on the Mainboard raising S$3.07 billion and seven new . Chapter 2 Introduction. CDP may, from time to time, issue Practice Notes (or amend existing Practice Notes) to provide guidance on the interpretation and application of any rule. (Listing Rules), which mandate that Mainboard-listed companies and Catalist-listed companies respectively must comply with the Principles of the 2018 CG Code. On 11 July 2019, the Singapore Exchange ("SGX") announced changes to two aspects of the voluntarily delisting regime for issuers listed on the SGX Mainboard and SGX Catalist, with immediate effect. Make comes with an extensive collection of built-in rules for compiling C programs. The review is part of SGX's drive to raise governance standards of listed companies and follows the introduction of a Disclosure Guidance document in January 2015 to help companies comply with key aspects of governance. Name) . The range of subjects directly concerned with international law has . Note 7F: Sustainability Reporting Guide ~ ^SGX Sustainability Reporting Guide _ of the SGX-ST Listing Rules, which provided guidelines on component requirements and reporting principles.2 Sustainability reports should focus on five primary components as required by SGX-ST Listing Rule 711B, in adherence to certain reporting principles. ("Sponsor") in accordance with Rule 226(2)(b) of the SGX-ST Listing Manual Section B: Rules of Catalist. 101; 102; Part II General Principles; Part III Application of Listing Rules; Part IV Issue Managers, Issuer's Directors and Issuer's Executive Officers; Part V Listing Fees and Other Charges; Part VI Liability of SGX-ST; Chapter 2 . On 6 August 2018, the Exchange amended the SGX-ST Listing Rules (Mainboard) following the publication of the Code of Corporate Governance 2018 by the Monetary Authority of Singapore ("MAS"). SGX is also limiting the voting rights of MV shares to a maximum of 10 votes per share, and issuers must set out the voting rights of its MV shares clearly in its Constitution. It must disclose any deviation from any guideline of the Code together with an appropriate explanation for . Rule 2 — Administration Rule 3 — Membership Rule 4 — Appointment of Chief Executive Officers and Directors Rule 5 — Financial/Capital Requirements Rule 5A — Position Accounts Rule 6 — Clearing and Settlement between Clearing Members and CDP Rule 6A — Margin Requirements Rule 6B — Collateral Rule 6C — Payments Rule 7 — Clearing Fund The underlying principles of the listing rules include the following: — (1) issuers shall have minimum standards of quality, operations, management experience and expertise; An implicit rule is a rule that matches file naming patterns. 29 November 2018. 104. As compliance falls under the listing rules, SGX would have to monitor and mandate compliance. International law provides guidelines to sovereign states and international organizations and some individuals. 2.1 Rule 710 of the SGX Mainboard Rules mandates that Mainboard-listed companies must comply with the principles of the 2018 CG Code. One such measure was to allow Mainboard Issuers to seek a general mandate for an issue of pro-rata shares and convertible securities for up to 100% of their share capital ("Enhanced Share Issue Limit"), instead of the limit of 50% prescribed in the SGX-ST Mainboard Listing Rules. 17.2.2 Any words importing the masculine gender shall include the feminine gender and shall, where the context permits or requires, include a partnership or an incorporated company. Part VI Liability of SGX-ST. Chapter 2 Sponsors. Extraordinary General Meeting held by the Company on 24 February 2021, pursuant . Part I Scope of Section B of Listing Manual; Part II General Principles. Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. Rule 4 — Appointment of Chief Executive Officers and Directors Rule 5 — Financial/Capital Requirements Rule 5A — Position Accounts Rule 6 — Clearing and Settlement between Clearing Members and CDP Rule 6A — Margin Requirements Rule 6B — Collateral Rule 6C — Payments Rule 7 — Clearing Fund Rule 8 — Default Rules Rule 9 — Suspension or Restriction Pursuant to consultations with market participants and the public which commenced in November 2018, amendments were made to the SGX listing rules, mainly pertaining Read More CONCLUSION The above revisions are aimed to protect minority investors and, in the authors' views, improve the overall fairness of the Singapore trading bourse for investors in general. In response to strong market support for the introduction of dual class shares in Singapore, the SGX has amended the Mainboard Rules ("the Rules"), with effect from 26 June 2018, to allow new companies seeking to list on the Mainboard to offer dual class share structures. "Comply or Explain" CODE PRINCIPLES. Chapter 3 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange. Definitions and Interpretation; Chapter 1 Introduction. Part I Scope of Chapter. This Guide provides guidance to the issuer on compliance with the requirements under the Listing Rules. Rule 3 — Membership. -. The circumstances under which SGX RegCo may exercise these powers are prescribed under Rule 1405(2) of the Mainboard Rules and Rule 305(2) of the Catalist Rules, for instance where the director or . Chapter 2A Composition, Powers, Functions and Procedures of the Listing Committee, the Listing Review Committee and the Listing Division. On the one hand, the principles provide guidelines for judges in deciding individual cases; on the other, they limit the discretionary power of judges and the executive power in deciding individual cases. ↑ 34: Koh and Tan, supra note 13. Rule 6 — Clearing and Settlement between Clearing Members and CDP. A Practice Note does not bind CDP in the application of a rule. Catalist (the "Catalist Rules"); and (c) submission of: (i) a written undertaking from the Company in the format set out in Appendix 2.3.1 of the Mainboard Listing Rules of the SGX-ST to comply with all of the SGX-ST's requirements and policies applicable to the issuers listed on the Mainboard; SGX Rulebooks. The Enhanced Share Issue Limit is intended to facilitate and . further extension of time until 4 March 2021 to meet the requirements under Rule 1314 of the Listing Manual of the SGX-ST, subject to conditions as disclosed in the aforesaid . General Announcement Date &Time of Broadcast 12-Apr-2016 00:11:18 Status New Announcement Sub Title RECEIPT OF AIP FROM THE SGX-ST-PROPOSED TRANSFER OF LISTING FROM THE MAIN BOARD TO THE CATALIST Announcement Reference SG160411OTHRQ7GO Submitted By (Co./ Ind. In accordance with Chapter 10 of the Mainboard Rules, the Proposed Acquisition will be subject to, amongst others, the approval of the shareholders of the Company ("Shareholders") at an extraordinary general meeting of Shareholders ("EGM") to be convened pursuant to Rule 1015 of the Mainboard Rules. Additionally, Singapore announced a package of initiatives to support high-growth enterprises to raise capital in the public equity market, further broadening the city-state's proposition as a financing hub. The practice note sets out the circumstances and relevant threshold limits in considering whether an IM is considered independent. Chapter 3 Debt Securities. Part IV Sponsors and Issuers' Directors. A sponsor regime may not be ideal for the main board, but the principles of ground-level supervision can be replicated, he argued. Companies listed on the Singapore Exchange are also expected to comply with the provisions that underpin the principles. In December 2019, the SGX reported that almost all listed companies have produced their sustainability reports on a timely basis following the mandating of the requirement. Chapter 3 Authorised Representatives, Directors, Board Committees and Company Secretary. Rule 6A — Margin Requirements. Rule 4 — Appointment of Chief Executive Officers and Directors. 3. First, that SGX should have a separate category for announcements of resignations of directors and key officers, with reasons clearly stated. 1.1 General 1.1.1 This document sets out the Ground Rules for the construction and management of the FTSE ST Index Series. Rule 1 — Application and Definitions. SGX LISTING RULES (LR) CODE PROVISIONS. The SGX-ST All new mainboard listings should engage a compliance adviser, preferably the listing manager, for at least two annual general meetings so that new boards are familiar with market requirements, Mr Gerald said. Rule 6B — Collateral. In response to strong market support for the introduction of dual class shares in Singapore, the SGX has amended the Mainboard Rules ("the Rules"), with effect from 26 June 2018 . d. The Singapore Exchange Listing Rules [SGX LR]; and e. Guidebook for Audit Committees in Singapore - Second Edition (2014) by the Work Group to review the Guidebook for Audit Committees in Singapore [GAC 2014]. (b) the information comprises matters of supposition or is insufficiently definite to warrant disclosure; (c) the information is generated for the internal management purposes of the entity; (d) the information is a trade secret. Mainboard Rules. A company seeking a listing of its shares on the SGX Mainboard or SGX Catalist will need to meet the conditions set out in Rule 210 of the Mainboard Rules of the SGX, or Rule 406 of the Catalist Rules of the SGX, respectively. Chapter 14 Transition Rules; Appendices; Practice Notes; Code of Corporate Governance 2012; Code of Corporate Governance 2018; SGX-ST Rules; CDP Clearing Rules; CDP Settlement Rules; DVP Rules [Entire Rulebook has been deleted] CDP Depository Rules; Futures Trading Rules; SGX-DC Clearing Rules; SIAC DT Arbitration Rules; SIAC DC Arbitration . Rule 10 — Liabilities; Rule 11 — Supervisory Rules; Rule 12 — Foreign Market Links; Rule 13 — General; Rule 14 — Transitional Provisions; Appendices; Regulatory Notices to CDP Clearing Rules; Practice Notes; Schedules; CDP Settlement Rules; DVP Rules [Entire Rulebook has been deleted] CDP Depository Rules; Futures Trading Rules; SGX . Rule 7 — Clearing Fund. The provisions replace the guidelines of former Codes. Mainboard Rules Definitions and Interpretation Chapter 1 Introduction Part I Scope of Chapter Part II General Principles Part III Application of Listing Rules Part IV Issue Managers, Issuer's Directors and Issuer's Executive Officers Part V Listing Fees and Other Charges Part VI Liability of SGX-ST Chapter 2 Equity Securities It states: "An issuer must describe its corporate governance practices with specific reference to the principles of the Code in its annual report. SGX Mainboard Rules, rules 711A and 711B, Practice Note 7.6 Sustainability Reporting Guide. Rule 5 — Financial/Capital Requirements. Chapter 1 Interpretation. Under a dual class share structure ("DCS structure"), certain shareholders are given voting rights Headings, titles and sub-titles are provided for ease of reference only and shall not affect the interpretation or construction of the provisions of these Clearing Rules. ing SGX enclaves, [57] presented a systematic re view of SGX attack vectors and aimed at inspiring the follow-up e ff orts to understand better the fundamental l imitations of SGX and the It can be confusing, so here is a short guide to help you navigate those corporate actions. The Enforcement Handbook issued by SGX RegCo will also be updated to provide (amongst other things) guidance on SGX RegCos use of its new expanded enforcement powers, relevant ' considerations in the exercise of such powers (and examples of their application), as well as the relevant sentencing principles and guidance. Over-arching, non-disputable statements which embody the fundamentals of good corporate governance and are expected to be complied with. Chapter 4 Accountants' Reports and Pro Forma Financial Information. A takeover offer is often welcomed by shareholders as a catalyst to unlock value. 103; Part III Application of Rules; Part IV Sponsors and Issuers' Directors; Part V Fees and Other Charges; Part VI Liability of SGX-ST; Chapter 2 Sponsors Rule 703 of the SGX Rulebook for both the Mainboard and Catalist contains general principles relating to the disclosure of material information. The Code has also been streamlined in three main ways: (a) the shifting of important requirements or baseline market practices to the SGX Listing Rules (which, unlike the Code, SGX Amends Mainboard Rules to Allow Dual Class Share Structures Introduction In response to strong market support for the introduction of dual class shares in Singapore, the SGX has amended the Mainboard Rules ("the Rules"), with effect from 26 June 2018, to allow new companies seeking to list on the Mainboard to offer dual class share structures. Part II General Principles 103 This Manual seeks to secure and maintain confidence in the market. a mandatory basis, in accordance with the Listing Rules. SGX Rulebooks. OV shareholders holding at least 10% of the total voting rights on a one-share-one-vote basis must be able to convene a general meeting. And relevant threshold limits in considering whether an IM is considered independent collection of built-in Rules for preparation. 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