Rulebooks: Contents

Rulebooks
Mainboard Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Equity Securities
Chapter 3 Debt Securities
Chapter 4 Investment Funds
Chapter 5 Structured Warrants
Chapter 6 Prospectus, Offering Memorandum and Introductory Document
Chapter 7 Continuing Obligations
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 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Appendices
Practice Notes
Report of the Committee and Code of Corporate Governance
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
DVP Rules
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

  Versions
(3 versions)
 

110

Listings Advisory Committee

Purpose

(1) The Listing Advisory Committee shall as a panel of independent market professionals, render advice to the Exchange on matters referred to it by the Exchange. The Exchange may refer to the Listings Advisory Committee for review, matters including those arising from or in connection with:
(a) listing policies;
(b) listing applications from issuers seeking admission to the Official List of the SGX-ST Main Board or seeking to undergo a reverse takeover ("specific listing applications"); or
(c) any other matter that the Exchange considers appropriate.

Composition

(2) The Listings Advisory Committee shall comprise members appointed by the SGX RegCo Board in consultation with the Authority, and shall not have a member who is, or who within 3 years of the proposed appointment date was, a director, officer or employee of:
(a) SGX; or
(b) a related corporation of SGX.
(3) The Listings Advisory Committee shall review referrals by convening a Listings Advisory Committee meeting, subject to the following conditions:
(a) a Listings Advisory Committee meeting shall have a quorum of 5 members, including a chairman or deputy chairman,
(b) a Listings Advisory Committee meeting shall at all times comprise a member representing an investor association;
(c) a Listings Advisory Committee meeting shall at all times comprise members who collectively have corporate finance, accounting and legal experience.

Referral of a specific listing application

(4) A specific listing application may be referred to a Listings Advisory Committee meeting when:
(a) novel or unprecedented issues are involved;
(b) specialist expertise is required;
(c) matters of public interest are involved; or
(d) the Exchange is of the view that a referral is appropriate.
(5) A listing applicant shall not have the right to seek referral of its specific listing application to a Listings Advisory Committee meeting. The Exchange shall not be obliged to inform a listing applicant if its specific listing application is subject to a Listings Advisory Committee meeting.
(6) The Exchange shall, within a reasonable period, report to the Listings Advisory Committee on specific listing applications which satisfy all admission requirements under the Exchange's listing rules and have not been referred to the Listings Advisory Committee. The Listings Advisory Committee has the discretion to convene a Listings Advisory Committee meeting for any specific listing application which was not referred to it, if it is of the view that any referral criterion under Rule 110(4) has been satisfied.
(7) The Listings Advisory Committee may require the Exchange to provide any additional information or documents it requires for consideration of matters under its review.
(8) No member of the Listings Advisory Committee shall participate in the review of a specific listing application if he has a conflict of interest.
(9) The Listings Advisory Committee shall provide its advice to the Exchange upon conclusion of its review of the matter. The Exchange is not bound by the advice of the Listings Advisory Committee.
(10) The Listing Advisory Committee shall be supported by a secretariat which reports to the chairman of the Listings Advisory Committee.
(11) The Exchange shall publish half-yearly reports of advice provided by the Listings Advisory Committee. The Listings Advisory Committee shall publish an annual report on matters reviewed by it. The publications of the Exchange and the Listings Advisory Committee shall include:
(a) the background facts relevant to the referral;
(b) the rules which were relevant to the referral; and
(c) a summary of the advice provided by the Listings Advisory Committee,
but shall not include any confidential information unless otherwise permitted by the Exchange.
(12) The Listings Advisory Committee shall not be liable for performing its functions under this Chapter. This limitation of liability extends to any actions whether in contract or tort or otherwise, and even in the purported performance of a function in good faith.

Amended on 7 October 2015 and 15 September 2017.