Versions

 

11.13.4 Making of Unsecured Loan or Advance, Payment of Dividend or Director's Fees or Increase in Director's Remuneration

A Trading Member shall not, without the prior written approval of SGX-ST, make any unsecured loan or advance, pay any dividend or director's fees or increase any director's remuneration if:—

(1) in the case where the Trading Member is incorporated in Singapore:—
(a) its base capital is less than the base capital requirement as prescribed in Rules 11.2 and 11.5;
(b) its financial resources is less than 150% of its total risk requirement;
(c) its aggregate indebtedness exceeds 600% of its aggregate resources;
(d) such a loan, advance, payment or increase will cause an event in Rule 11.13.4(1)(a), (b) or (c) to occur; or
(2) in the case where the Trading Member is incorporated outside Singapore:—
(a) its net head office funds is less than the base capital requirement as prescribed in Rules 11.2 and 11.5;
(b) its adjusted net head office funds is less than 150% of its total risk requirement;
(c) its aggregate indebtedness exceeds 600% of its aggregate resources;
(d) such a loan, advance, payment or increase will cause an event in Rule 11.13.4(2)(a), (b) or (c) to occur.

Amended on 29 December 201429 December 2014.