11.13.2 Preference Shares
(1) A Trading Member which is incorporated in Singapore shall immediately notify SGX-ST prior to the issue of any preference share.
(2) A Trading Member which is incorporated in Singapore shall not redeem any redeemable preference share:—
(a) unless the Trading Member notifies SGX-ST at least 1 year before the proposed date of redemption;
(b) if at the date of redemption:—
(i) its financial resources (including qualifying letters of credit referred to in Rule 11.3.11) is less than 150% of its total risk requirement; or
(ii) its aggregate indebtedness exceeds 600% of its aggregate resources;
(c) if such redemption will cause an event in Rule 11.13.2(2)(b) above to occur; or
(d) if SGX-ST has prohibited in writing such a redemption.