The Appeals Committee shall comprise persons appointed by the SGX RegCo Board and approved by the Authority provided that:
(a) the Appeals Committee shall not have a member who is, or who within three years of the proposed appointment date was, a Director, Officer or employee of:
(i) SGX; or
(ii) a related corporation of SGX.
(b) a majority of the Appeals Committee shall not be Directors, Officers or employees of any member of SGX or SGX's subsidiaries; and
(c) a majority of the Appeals Committee shall not be substantial shareholders of SGX or Directors, Officers or employees of any substantial shareholder of SGX.