(a) A Trading Member that is incorporated in Singapore shall notify SGX-ST prior to the issue of any preference share.
(b) A Trading Member that is incorporated in Singapore shall not repay the principal of any preference share (other than any paid-up irredeemable and non-cumulative preference share capital) that is computed as part of its financial resources, through repurchase or redemption:
(i) unless the Trading Member notifies SGX-ST within such time before the proposed date of repurchase or redemption as prescribed by the SFR (Financial and Margin Requirements);
(ii) if at the date of repurchase or redemption:
(I) its financial resources is less than 150% of its total risk requirement; or
(II) its aggregate indebtedness exceeds 600% of its aggregate resources;
(iii) if such repurchase or redemption will cause an event in Rule 3.15.3(b)(ii) above to occur; or
(iv) if SGX-ST has prohibited in writing such a repurchase or redemption.