Whole Section

  • 2.26 Resignation

    • 2.26.1

      If a Trading Member intends to resign, it must:

      (a) give SGX-ST at least 30 days' written notice, stating the proposed date of resignation. SGX-ST may vary or waive the notice period. If the resignation is accepted, SGX-ST will notify all Trading Members of the effective date of resignation;
      (b) not enter into any contract seven Market Days from the date of notice except with the written approval of SGX-ST;
      (c) satisfy SGX-ST that it has taken, or will take, steps for the orderly winding down of its business with SGX-ST; and
      (d) satisfy SGX-ST that it has fulfilled or is able to fulfil:
      (i) its obligations to SGX-ST; and
      (ii) its obligations to all its customers as SGX-ST may specify.

      Added on 3 June 20193 June 2019.

    • 2.26.2

      SGX-ST shall have the absolute discretion to accept the resignation, postpone the effective date of the resignation and/or without prejudice to the courses of action available to SGX-ST, take such measures as it may determine appropriate before or after the resignation takes effect. Notwithstanding the foregoing, the SGX-ST may in its absolute discretion refuse to accept the resignation of a Trading Member if it is:

      (a) conducting an investigation under the Rules, investigating a complaint or has initiated disciplinary proceedings against the Trading Member; or
      (b) not satisfied that the Trading Member has fulfilled or is able to fulfil:
      (i) its obligations to SGX-ST; and
      (ii) its obligations to all its customers as SGX-ST may specify.

      Added on 3 June 20193 June 2019.

    • 2.26.3

      If SGX-ST accepts a Trading Member's resignation, the Trading Member's name will be deleted from the register of Trading Members upon the effective date of resignation.

      Added on 3 June 20193 June 2019.

    • 2.26.4

      A Trading Member must continue to comply with the Rules until the effective date of resignation.

      Added on 3 June 20193 June 2019.