(1) The Exchange may, in its absolute discretion, exercise administrative powers for the purposes of ensuring that the market is fair, orderly and transparent, and that the Exchange does not act contrary to the interests of the investing public, including the powers to:

(a) issue public queries to an issuer;

(b) require an issuer to make specified disclosures;

(c) require any Relevant Person to provide information, documents or electronic records to the Exchange;

(d) withhold any applicable approvals in respect of applications submitted by an issuer; 

(e) require an issuer to appoint compliance advisers, legal advisers or other independent professionals for specified purposes;

(f) waive or modify compliance with a Rule (or part of a Rule);

(g) halt or suspend trading of listed securities of an issuer under Rules 103, 602 and 603;

(h) remove an issuer from the Official List under Rules 103 and 605; and

(i) impose any other requirements on a Relevant Person which the Exchange considers appropriate.

(2) The Exchange may, in Its absolute discretion, exercise investigative and enforcement powers for the purposes of enforcing the Rules, including the powers to:

(a) initiate and conduct investigations against a Relevant Person;

(b) initiate disciplinary proceedings against a Relevant Person;

(c) take enforcement action against a Relevant Person including the following;

(i) issuing a private warning to a Relevant Person;

(ii) issuing a public reprimand to a Relevant Person;

(iii) requiring an issuer to appoint compliance advisers, legal advisers or other independent professionals for specified purposes;

(iv) requiring an issuer to implement an effective compliance programme;

(v) requiring a Relevant Person to perform other remedial action to rectify the consequences of contraventions;

(vi) denying an issuer of facilities of the market, prohibiting an issuer from accessing the facilities of the market for a specified period or until fulfilment of specified conditions;

(vii) requiring an issuer to comply with conditions on the activities undertaken by the issuer;

(viii) halting or suspending trading of listed securities of an issuer;

(ix) removing an issuer from the Official List;

(x) suspending or restricting the activities of an issue manager if the integrity of the market may be adversely affected or if the Exchange thinks it necessary in the interests of the public or for the protection of investors. The Exchange will refer the matter to the Disciplinary Committee within 14 days from the date of suspension or restriction, whereupon the Disciplinary Committee will determine if the suspension or restriction should be lifted or should be continued for a specified period not exceeding three years;

(xi) imposing conditions on the accreditation of an issue manager; and

(xii) imposing any other requirements on a Relevant Person which the Exchange considers appropriate.

(3) Where a Relevant Person does not comply with requirements imposed by the Exchange set out in Part 3 of this Chapter, the Relevant Person shall be deemed to have contravened the Rules.