Whole Section

  • Section F — Transitional Provisions

    • Chapter 20 — Transitional Provisions

      • 20.1 Transitional Provisions Regarding Capital and Financial Requirements

        • 20.1.2 Transitional Arrangements

          Rules 11.1, 11.3.2, 11.3.3, 11.3.11, 11.4.6, 11.7.2, 11.8.3, 11.13.1, 11.13.2, 11.13.3, 11.13.4 and 19.11 (as amended on and in force from 29 December 2014), except for the definition of Base Capital, shall not apply to a Transitional Trading Member during the Transitional Period, and the aforesaid Rules as in force immediately before 29 December 2014 shall continue to apply to a Transitional Trading Member during the Transitional Period. A reference to any provision of the SFR (Financial and Margin Requirements) in the aforesaid Rules as in force immediately before 29 December 2014 is to that provision in the SFR (Financial and Margin Requirements) as in force immediately before 3 April 2013. For avoidance of doubt, the definition of Base Capital applicable to a Transitional Trading Member has the same meaning ascribed in the SFR(Financial and Margin Requirements) as in force on 3 April 2013.

          Added on 29 December 201429 December 2014.

        • 20.1.3 Transitional Period

          For the purposes of Rule 20.1.2, “Transitional Period” means the period commencing on 3 April 2013 and:—

          (1) in relation to all rule amendments except the definition of Base Capital, till 2 April 2015; or
          (2) ending on such date, before the expiry date stated in Rule 20.1.3(1), specified in a written notice to SGX-ST informing SGX-ST of the Transitional Trading Member's intention to adopt the requirements pursuant to Rule 20.1.4,
          whichever is the earlier.

          Added on 29 December 201429 December 2014.

        • 20.1.4 Notification by Writing

          For the purpose of Rule 20.1.3(2), the Transitional Trading Member shall notify SGX-ST in writing at least 14 days before the intended date to adopt the requirements.

          Added on 29 December 201429 December 2014.

        • 20.1.5 Transitional Trading Member

          "Transitional Trading Member" means

          (1) in the case of a Trading Member who is a holder of the Capital Markets Services Licence, is a “specified holder” as defined under Regulation 25 of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2013 or a “new holder” as defined under Regulation 26 of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2013
          (2) in the case of a Trading Member who is not a holder of the Capital Markets Services Licence, is an existing Trading Member prior to 3 April 2013 or one who applied to be a Trading Member prior to 3 April 2013.

          Added on 29 December 201429 December 2014.