4.2.3 Other Businesses
(1) An Approved Executive Director shall inform CDP in writing at least fourteen (14) days before he or she engages in, or holds any substantial shareholding in, any other business that might potentially conflict with being an Approved Executive Director. The Approved Executive Director shall ensure that the proposed engagement or shareholding is agreed to by his or her Clearing Member.
(2) The engagement (and any actions taken under it) or shareholding shall not breach the SFA, SFR, this Clearing Rules, Clearing Directives (where applicable), or any relevant law or regulation.
(3) An Approved Executive Director shall supply CDP with any information it requires regarding the engagement or acquisition of shareholding.
(4) If CDP objects to the engagement or acquisition of shareholding, an Approved Executive Director shall not proceed with it. CDP may extend the period specified in Rule 4.2.3(1). If extended, the Approved Executive Director shall not proceed with the engagement or acquisition of shareholding before the expiry of the extended period.
(5) If an engagement or shareholding, in CDP's opinion, is detrimental to the financial integrity, reputation or interests of CDP, the Clearing Member or its customers, or in the case of a Bank Clearing Member, the Bank Clearing Member's customers in relation to its business governed by this Clearing Rules, CDP may require the Approved Executive Director to end it.
(6) If CDP objects to the engagement or acquisition or shareholding or requires an Approved Executive Director to end it, the Approved Executive Director may, within fourteen (14) days after it is notified of CDP's decision, appeal in writing to the Board whose decision shall be final.