Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
Rule 1 — Application and Definitions
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
Rule 8 — Default Rules
Rule 9 — Suspension or Restriction of Clearing
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-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(2 versions)
 
Up to Dec 28 2014Dec 29 2014 onwards

5.11.4 Making of Unsecured Loan or Advance, Payment of Dividend or Director's Fees or Increase in Director's Remuneration by General Clearing Member

Each General Clearing Member shall not, without the prior written approval of CDP, make any unsecured loan or advance, pay any dividend or director's fees or increase any director's remuneration if:—

(1) in the case where the General Clearing Member is incorporated in Singapore:—
(a) the base capital of the General Clearing Member is less than the base capital requirement as prescribed in Rules 5.1.1(1) and 5.4;
(b) the financial resources of the General Clearing Member are less than 150% of its total risk requirement;
(c) the aggregate indebtedness of the General Clearing Member exceeds 600% of its aggregate resources; or
(d) such a loan, advance, payment or increase will cause an event in Rule 5.11.4(1)(a), (b) or (c) to occur; or
(2) in the case where the General Clearing Member is incorporated outside Singapore:—
(a) the net head office funds of the General Clearing Member are less than the net head office funds requirement as prescribed in Rules 5.1D.1(1) and 5.4;
(b) the adjusted net head office funds of the General Clearing Member are less than 150% of its total risk requirement;
(c) the aggregate indebtedness of the General Clearing Member exceeds 600% of its aggregate resources; or
(d) such a loan, advance, payment or increase will cause an event in Rules 5.11.4(2)(a), (b) or (c) to occur.

Amended on 1 July 2008 and 29 December 2014.