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 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 Transition Rules
Appendices
Practice Notes
Practice Note 4D Training for Directors with No Prior Experience
Code of Corporate Governance 2012
Code of Corporate Governance 2018
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
Archive
Rule Amendments

  Versions
(1 version)
 
Jan 1 2019 onwards

Practice Note 4D Training for Directors with No Prior Experience

Future version: effective from Jan 1 2019 onwards.

1 Introduction

1.1 Rule 406(3)(a) provides that a director who has no prior experience as a director of a listing applicant listed on the Exchange (a "First-time Director") must undergo training in the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange.
1.2 This Practice Note prescribes the training that a First-time Director must undergo within one year from the date of his appointment to the board ("Mandatory Training"). If any director of an issuer which is newly listed on the Exchange has not attended any training as prescribed in paragraph 2 below, such director must attend Mandatory Training by the end of the first year of the issuer's listing.

2 Mandatory Training

2.1 To fulfil the Mandatory Training requirements, First-time Directors must attend the training programmes conducted by a training provider as specified in Schedule 1 to this Practice Note.

3 Persons with Relevant Experience

3.1 The Exchange expects all First-time Directors to attend Mandatory Training.
3.2 In exceptional circumstances, First-time Directors assessed by the issuer's Nominating Committee to possess relevant experience need not attend Mandatory Training. In assessing the relevant experience, the Nominating Committee must have regard to whether the experience is comparable to the experience of a person who has served as a director of an issuer listed on the Exchange. The issuer's Nominating Committee must disclose its reasons for its assessment that the First-time Director possesses relevant experience. Such reasons shall be disclosed in the announcement of the appointment of the First-time Director as director of the issuer or in the offer document.
3.3 Notwithstanding paragraph 3.2 above, the Exchange has the discretion to direct a First-time Director to attend Mandatory Training.

Schedule 1

Training Provider Mandatory Training
Singapore Institute of Directors Listed Entity Directors Programme

LED 1 – Listed Entity Director Essentials

LED 2 – Board Dynamics

LED 3 – Board Performance

LED 4 – Stakeholder Engagement

The First-Time Director must also attend the modules relevant to his appointment on the board of the Issuer. The modules are:

LED 5 – Audit Committee Essentials

LED 6 – Board Risk Committee Essentials

LED 7 – Nominating Committee Essentials

LED 8 – Remuneration Committee Essentials

Added on 1 January 2019.