Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
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
Chapter 1 Application of Rules
Chapter 2 Clearing Membership
Chapter 3 Committees
Chapter 4 Enforcement of Rules
Chapter 5 Arbitration
Chapter 6 Delivery and Related Matters
Chapter 7 Clearing and Margins
Chapter 7A Suspension and Default
Chapter 7B Payments
Chapter 8 Mutual Offset System
Chapter 9 Definitions and Interpretation
Chapter 10 Transitional Provisions
Directives
Practice Notes
Appendices
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

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

2.11.2 Preference Share

2.11.2.1 Each Clearing Member incorporated in Singapore, except in the case of a Bank Clearing Member, shall immediately notify the Clearing House prior to the date of issue of any preference share.
2.11.2.2 A Clearing Member incorporated in Singapore, except in the case of a Bank Clearing Member, shall not repay the principal of any preference share (other than any paid-up irredeemable and non-cumulative preference share capital) that is computed as part of its financial resources, through repurchase or redemption:—
a. unless the Clearing Member notifies the Clearing House within such time before the proposed date of repurchase or redemption as prescribed by the SFR (Financial and Margin Requirements);
b. if at the date of repurchase or redemption:—
i. the financial resources of the Clearing Member is less than 150% of its total risk requirement; or
ii. the aggregate indebtedness of the Clearing Member exceeds 600% of its aggregate resources;
c. if such a repurchase or redemption will cause an event in Rule 2.11.2.2.b above to occur; or
d. if the Clearing House has prohibited in writing such a repurchase or redemption.

Amended on 27 March 2006, 10 August 2007 and 29 December 2014.