Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Sponsors
Chapter 3 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Chapter 4 Equity Securities
Chapter 5 Reserved
Chapter 6 Reserved
Chapter 7 Continuing Obligation
Chapter 8 Changes in Capital
Chapter 9 Interested Person Transactions
Chapter 10 Acquisitions and Realisations
Chapter 11 Takeovers
Chapter 12 Circulars, Annual Reports and Electronic Communications
Chapter 13 Trading Halt, Suspension and Delisting
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 Rules
Archive
Rule Amendments

224

A sponsor must comply with the following general obligations:

(1) Maintain eligibility, including the following:
(a) ensure that it continues to fulfil the eligibility criteria in Rules 204 or 205, and such conditions imposed by the Exchange;
(b) notify the Exchange immediately if it ceases to fulfil any of the eligibility criteria or conditions imposed by the Exchange, or has reason to believe that it will cease to do so; and
(c) keep up to date with the requirements of the Rules and the law, and professional standards relevant to the fulfilment of its responsibilities, including a sound understanding of the legal and regulatory framework for the Singapore corporate finance market and Catalist in particular.
(2) Liaise with the Exchange on matters which should be brought to its attention, including the following:
(a) appoint a sufficiently senior registered professional (and an alternate) to liaise with the Exchange on matters concerning the sponsor's responsibilities. The sponsor must provide the Exchange with the contact details of such liaison persons and inform the Exchange immediately of any change to the details;
(b) notify the Exchange when it accepts sponsorship of an issuer, in the form contained in Appendix 2C;

Refer to Appendix 2C — Change of Sponsor Confirmation.
(c) notify the Exchange when an issuer refuses to heed its advice on matters which may involve or lead to a breach of the Rules;
(d) notify the Exchange when it forms the opinion that the trading of the issuer's securities should be halted or suspended, or that the issuer should be delisted;
(e) provide any information required by the Exchange as soon as practicable, ensuring reasonably, that such information is correct, complete and not misleading. If subsequently it reasonably believes that the information provided does not meet this standard, notify the Exchange as soon as practicable, and correct the information;
(f) seek the Exchange's advice if it is unsure about the application or interpretation of the Rules or if a situation may adversely affect the reputation of the Exchange or integrity of the market. The Exchange will generally not accept enquiries from a sponsor on an anonymous basis;
(g) notify the Exchange promptly on employing a new registered professional;
(h) notify the Exchange if a registered professional leaves its employment. If possible, the Sponsor must give at least one month's notice; and
(i) notify the Exchange if any change in its board of directors or auditors occurs or is proposed.
(3) Have adequate systems and resources to discharge its obligations under the Rules, including the following:
(a) sufficient number of registered professionals, including ensuring that any employee:
(i) whose experience falls within any of the categories in Rule 204(7) or Rule 205(7); and
(ii) who undertakes sponsor activities,
applies for registration as a registered professional;
(b) adequate systems and processes to ensure that registered professionals continue to meet the criteria for registration and any conditions or restrictions imposed by the Exchange, at all times;
(c) sufficient and appropriately qualified and experienced corporate finance, compliance and other employees, having regard to Practice Note 2A paragraph 6;
(d) appropriate internal processes and operating procedures, including those required for the supervision of employees and the quality of their work;
(e) adequate and up-to-date documentation, including its compliance, policy and procedural manuals, to support its work processes and supervision of employees;
(f) record-keeping that ensures records pertaining to its business are kept for at least 6 years, including a complete audit trail of key discussions, advice and decision-making processes in relation to listing applicants and issuers and the basis for the advice and decisions; and
(g) controls, procedures and other safeguards to maintain its independence and avoid conflicts of interest, including complying with the requirements set out in Appendix 2D.

Refer to Appendix 2D — Sponsor Independence.

Refer to Practice Note 2A — Eligibility Criteria for Sponsors.
(4) Act properly at all times in dealings with listing applicants or issuers, including the following:
(a) use due care and skill;
(b) maintain regular contact with listing applicants and issuers;
(c) seek assistance of other appropriately qualified and suitable professionals as needed, while retaining overall management and responsibility for the activity;
(d) be independent of the listing applicant or issuer and avoid conflicts of interest, including complying with the requirements set out in Appendix 2D; and

Refer to Appendix 2D — Sponsor Independence.
(e) only accept sponsorship of listing applicants and issuers that allow the sponsor to discharge its obligations under the Rules.
(5) Be responsible for the acts and omissions of its directors, officers, registered professionals, employees and agents.
(6) Comply with the Rules and notify the Exchange when it fails to do so, or when it becomes aware that it is likely to fail to do so.
(7) Ensure that communications with the Exchange are kept confidential, except as required to be disclosed:
(a) to the listing applicant or issuer;
(b) to the sponsor's employees, advisers, consultants or agents on a need-to-know basis;
(c) by the Authority; or
(d) by any law.