1.7 Rules as Binding Contract and Deemed Consent of Members
1.7.1 Binding Contract
This Rules shall operate as a binding contract as contemplated under the Act, between:(a) the Exchange and each Member; and(b) between each Member and any other Member.
1.7.2 Deemed Consent
Each Member shall be deemed to have agreed to observe and perform the provisions of this Rules in force for the time being, so far as these provisions are applicable to the Exchange or the Member, as the case may be.
1.7.3 No Third Party Rights
A Person who is not a Member has no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any provisions under this Rules.
1.7.4 Delegation and assignment
The Exchange may delegate, assign or grant authority to exercise any of its rights, powers, authorities and discretions under these Rules, including any right to enforce these Rules, to such person or entity as it may determine in its sole discretion, without consent from any Trading Member.
Where these Rules provide that any power, authority or discretion is to be exercised by the Board, the Board may delegate, assign or grant authority to exercise such power, authority or discretion to any person or entity. The Board may authorise a delegate to sub-delegate.
1.7.5 SGX RegCo's authority
SGX RegCo shall have the authority to exercise any rights, powers, authorities and discretions under these Rules, including the right to enforce these Rules. In the exercise of any such rights, powers, authorities and discretions under these Rules, SGX RegCo shall be bound to the same extent as the Exchange in respect of any obligations arising from the exercise of such rights, powers, authorities and discretions.