(1) the applicant does not provide information relating to the application as SGX-ST requires;

(1A) any information or document that is furnished by the applicant to SGX-ST is false or misleading;

(2) the applicant, its substantial shareholders or head office, is in the course of being wound up, or a resolution to do so is passed by shareholders, or a court order is made, to wind it up, whether in or out of Singapore;

(3) execution against the applicant, its substantial shareholders or head office, in respect of a judgment debt has been returned unsatisfied in whole or in part, whether in or out of Singapore;

(4) the applicant, its substantial shareholders or head office, has entered into an arrangement or composition with its creditors that is still in operation, whether in or out of Singapore;

(5) a receiver, a receiver and manager, judicial manager or such other person having similar powers and duties, has been appointed, whether in or out of Singapore, in relation to any property of the applicant, its substantial shareholders or head office;

(6) SGX-ST is not satisfied with the financial standing of the applicant, its substantial shareholders or head office;

(7) SGX-ST is not satisfied with the manner in which the applicant's business is to be conducted;

(8) the applicant, any of its Officers, substantial shareholders or head office breaches any provision involving fraud or dishonesty, whether in or out of Singapore;

(9) the applicant, any of its Officers, substantial shareholders or head office has been convicted of an offence under the Securities and Futures Act or any other relevant applicable laws and regulatory requirements relating to the regulation of markets and licenced entities;

(10) the applicant, any of its Officers, substantial shareholders or head office is the subject of an investigation involving an allegation of fraud or dishonesty, whether in or out of Singapore;

(11) SGX-ST is not satisfied as to the educational or other qualification or experience of the Officers of the applicant;

(12) SGX-ST is not satisfied with the applicant's record of past performance;

(13) SGX-ST is not satisfied that the applicant, any of its Officers, substantial shareholders or head office is a fit and proper person;

(14) SGX-ST has reason to believe that the applicant or any of its Officers or employees may not perform the functions efficiently, honestly and fairly;

(15) SGX-ST has reason to believe that the applicant may not act in the best interests of its customers; or

(16) in SGX-ST's opinion, it would be contrary to the interests of the public to admit the applicant as a Trading Member.