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 Obligation
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
Code of Corporate Governance 2012
Code of Corporate Governance 2018
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
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(3 versions)
 

226

Past version: effective up to Jan 31 2011.
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(1) A sponsor taking on sponsorship of an existing issuer must comply with the following obligations:
(a) achieve a thorough understanding of the issuer and its business, including recent major developments relating to it, and gain an understanding of the industry it operates in, having regard to the guidance in paragraph 2 of Practice Note 2B where applicable;
(b) investigate and consider the suitability of each director and proposed director of the issuer and consider the efficacy of the board as a whole for the company's needs, having regard to the guidance in paragraph 3 of Practice Note 2B where applicable; and
(c) satisfy itself that the issuer has sufficient systems, procedures, controls and resources to comply with the Rules and that its directors understand and intend to fulfil their obligations at all times for as long as the issuer is listed on the Exchange, having regard to the guidance in paragraph 6 of Practice Note 2B.

Refer to Practice Note 2B — Guidelines for Preparing a Listing Applicant for Admission or Advising an Issuer in a Very Substantial Acquisition or Reverse Takeover.
(2) A sponsor, in undertaking continuing activities for an issuer, must comply with the following obligations, having regard to the guidance in Practice Note 2C, where applicable:
(a) maintain regular contact with its issuer, including being available to advise on:
(i) all Rule matters; and
(ii) corporate governance matters (including board governance matters) or arrange for an appropriate adviser to do so;
(b) review all documents to be released by the issuer to shareholders or to the market (including announcements, resolutions contained in notices of meetings, circulars and corporate actions) before release, to ensure that the issuer is in compliance with the Rules and makes proper disclosure. The document must display prominently the following on the front cover:

This document has been reviewed by the Company's sponsor, [full name of sponsor]. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the sponsor is [full name], [contact details].
(c) monitor the trading of the listed securities of its issuer and seek and review reasons for any unusual fluctuations in the price and volume of the listed securities;
(d) advise its issuer on the suitability of directors arising from proposed changes in the issuer's board of directors;
(e) advise its issuer on the appointment of a suitable accounting firm to meet the issuer's audit obligations; and
(f) advise its issuer if the trading of the issuer's securities should be halted or suspended.

Refer to Practice Note 2C — Guidelines for Continuing Sponsorship.
(3) When asked by the Exchange, demonstrate that it has complied with Practice Note 2C or how it has met the objectives in the Practice Note in another way.

Refer to Practice Note 2C — Guidelines for Continuing Sponsorship.
(4) A sponsor undertaking continuing activities for an issuer that is executing a corporate action must be satisfied, having made reasonable due diligence enquiries (including, at a minimum, complying with the SIBA Due Diligence Guidelines where applicable or such other satisfactory and no less strict due diligence guidelines or processes) and having considered all relevant matters, of the following:
(a) the suitability and competence of other professionals and consultants involved in the corporate action;
(b) compliance with any rule requirements or legal requirements; and
(c) that any difference in effect of the corporate action on minority shareholders compared to other shareholders, is clearly disclosed.

Refer to Practice Note 2C — Guidelines for Continuing Sponsorship.