4.03A.1.1 breaches the SFA or SFR;

4.03A.1.2 breaches this Rules;

4.03A.1.3 breaches any relevant law or regulation which governs that Clearing Member's other business activities;

4.03A.1.4 breaches the rules of any other exchange;

4.03A.1.5 breaches any provisions involving fraud or dishonesty, whether in or out of Singapore;

4.03A.1.6 breaches director's duties;

4.03A.1.7 engages in conduct that has the effect of circumventing the SFA, SFR, this Rules and/or any applicable laws; or

4.03A.1.8 engages in conduct detrimental to the financial integrity, reputation, interests or operation of the Clearing House.