11.13.2 Preference Shares

(1) A Trading Member which is incorporated in Singapore shall notify SGX-ST prior to the issue of any preference share.

(2) A Trading Member which 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:—

(a) 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);

(b) 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;

(c) if such repurchase or redemption will cause an event in Rule 11.13.2(2)(b) above to occur; or

(d) if SGX-ST has prohibited in writing such a repurchase or redemption.

Amended on 29 December 2014 29 December 2014.