(1) Upon conclusion of the hearing, the Disciplinary Committee shall within a specified period of no more than six weeks determine if the proceeded charges have been made out and provide a written grounds of decision.

(2) Where the Disciplinary Committee makes a finding that the proceeded charges are made out, the Disciplinary Committee shall also include in the written grounds, the sanctions which are to be imposed against the Relevant Person. The Disciplinary Committee may impose one or more of the following sanctions:

(a) issuing a private warning;

(b) issuing a public reprimand;

(c) in the case of an issuer:

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

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

(iii) requiring an issuer to perform other remedial action to rectify the consequences of contraventions;

(iv) issuing an order for the denial of facilities of the market, prohibiting an issuer from accessing the facilities of the market for a specified period;

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

(vi) issuing an order for the suspension of the trading of an issuer's securities for a specified period; or

(vii) issuing an order for the removal of an issuer from the Official List;

(d) in the case of an issue manager:

(i) issuing an order for the suspension or restriction of an issue manager's activities, or for the continuation of the suspension or restriction of an issue manager's activities pursuant to Rule 705(2)(c)(x);

(ii) issuing an order for the prohibition of an issue manager from participating in any specific listing applications on the Exchange for a period not exceeding three years;

(iii) imposing conditions on the accreditation of an issue manager; or

(iv) issuing an order for the revocation of the accreditation of an issue manager;

(e) issuing an order for costs, requiring that the proceedings be paid by a Relevant Person if the Relevant Person's conduct during proceedings was unreasonable; or

(f) issuing any other order which the Disciplinary Committee is of the opinion is appropriate.

(3) Where the Disciplinary Committee finds that proceeded charges are made out, and the Relevant Person did not object under Rule 714(5) to an application for charges to be TIC charges, the Disciplinary Committee shall consider the TIC charges before determining the appropriate sanctions. The Disciplinary Committee shall include in the written grounds of decision, the effect that the TIC charges had on the determination of the sanctions imposed.

(4) Where the Disciplinary Committee considers a TIC charge and has included in the written grounds of decision, the effect that the TIC charge had on the determination of the sanctions imposed, the Exchange may not take any further disciplinary action against the Relevant Person in respect of the TIC charge.

(5) Where a Relevant Person objects to an application for charges to be taken into consideration under Rule 714(5), the charges shall be deemed to be stood down charges. The Disciplinary Committee shall not consider stood down charges when determining sanctions to be imposed.

(6) The Exchange may proceed on the stood down charges by convening a separate Disciplinary Committee hearing.

(7) Failure by a Relevant Person to comply with such requirements or orders issued by the Disciplinary Committee under Rule 715(2) shall be deemed a contravention of the Rules.