Rulebooks: Contents

Rulebooks
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SGX-ST Rules
CDP Clearing Rules
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SGX-ST Rules
Section D — Regulatory Framework
Chapter 11 — Capital and Financial Requirements
Rule Amendments

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

11.13.4 Making of Unsecured Loan or Advance, Payment of Dividend or Director's Fees or Increase in Director's Remuneration

Past version: effective up to Dec 28 2014.
To view other versions open the versions tab on the right.

A Trading Member shall not, without the prior written approval of SGX-ST, 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 Trading Member is incorporated in Singapore:—
(a) its base capital is less than the base capital requirement as prescribed in Rules 11.2 and 11.5;
(b) its financial resources (including qualifying letters of credit referred to in Rule 11.3.11) is less than 150% of its total risk requirement;
(c) its aggregate indebtedness exceeds 600% of its aggregate resources;
(d) such a loan, advance, payment or increase will cause an event in Rule 11.13.4(1)(a), (b) or (c) to occur; or
(2) in the case where the Trading Member is incorporated outside Singapore:—
(a) its net head office funds is less than the base capital requirement as prescribed in Rules 11.2 and 11.5;
(b) its adjusted net head office funds (including qualifying letters of credit referred to in Rule 11.3.11) is less than 150% of its total risk requirement;
(c) its aggregate indebtedness exceeds 600% of its aggregate resources;
(d) such a loan, advance, payment or increase will cause an event in Rule 11.13.4(2)(a), (b) or (c) to occur.