719
An issuer should have adequate and effective systems of internal controls (including financial, operational, compliance and information technology controls) and risk management systems. The audit committee may commission an independent audit on internal controls and risk management systems for its assurance, or where it is not satisfied with the systems of internal controls and risk management.
If the audit committee of an issuer becomes aware of any suspected fraud or irregularity, or suspected infringement of any Singapore laws or regulations or rules of the Exchange or any other regulatory authority in Singapore, which has or is likely to have a material impact on the issuer's operating results or financial position, the audit committee must discuss such matter with the external auditor and, at an appropriate time, report the matter to the board.
An issuer must establish and maintain on an ongoing basis, an effective internal audit function that is adequately resourced and independent of the activities it audits.
Amended on 29 September 201129 September 2011 and 1 January 20191 January 2019.
Directors and Management
Amended on 29 September 201129 September 2011 and 7 February 20207 February 2020.
720
Amended on 29 September 201129 September 2011, 27 September 201327 September 2013, 7 October 20157 October 2015, 1 January 20191 January 2019, 7 February 20207 February 2020, 1 August 2021 and 1 January 2022.
721
If an agreement has been entered into in connection with any acquisition or realisation of assets or any transaction outside the ordinary course of business of the issuer or its subsidiaries, and such an agreement has been disclosed publicly, the announcement must include a statement that a copy of the relevant agreement will be made available for inspection during normal business hours at the issuer's registered office for a period of 3 months from the date of the announcement.
723
An issuer must ensure that at least 10% of the total number of issued shares excluding treasury shares (excluding preference shares and convertible equity securities) in a class that is listed is at all times held by the public.
724
Amended on 7 October 20157 October 2015.
725
An issuer must appoint two authorised representatives who must be either directors or a director and the company secretary.
726
The responsibilities of an authorised representative are as follows: —
727
If the Exchange is not satisfied that the authorised representative is fulfilling his or her responsibilities adequately, it may require the issuer to terminate the appointment and appoint a replacement. The issuer must immediately notify the Exchange of the new authorised representative's appointment and relevant particulars.
728
Amended on 29 September 201129 September 2011, 31 March 201731 March 2017, 26 June 201826 June 2018 and 7 February 20207 February 2020.
Restriction on Transfers of Securities
Added on 29 September 201129 September 2011 and amended on 7 February 20207 February 2020.
729
Where the trading of securities of an issuer is suspended, there must not be any transfers of securities, unless approved by the Exchange.
Amended on 29 September 201129 September 2011.
730
730A
Added on 1 January 20141 January 2014 and amended on 1 August 20151 August 2015.
730B
For an issuer with a dual class share structure, the following matters must be voted through the enhanced voting process:
For the avoidance of doubt, the relevant voting thresholds in respect of each of the above matters will continue to apply.
Added on 26 June 201826 June 2018.
730C
An issuer must announce any change in its financial year end, stating the reasons for the change.
Added on 7 February 20207 February 2020.