304 Appeals Committee

Past version: Effective up to 06 Oct 2015

(1) The Appeals Committee comprises persons appointed by the Board provided that:
(a) no director, officer or employee of Singapore Exchange Limited ("SGX") or any of its related companies may be appointed;
(b) a majority are not directors, officers or employees of the sponsors or its subsidiaries; and
(c) a majority are not substantial shareholders of SGX or directors, officers or employees of any substantial shareholder of SGX.
(2) The Appeals Committee will include at least 1 corporate finance practitioner as part of the initial quorum.
(3) The Appeals Committee elects a chairman from among the members.
(4) The Appeals Committee has a quorum of 3 (including the chairman) when the meeting proceeds to business but may complete any business of a meeting with 2 members provided that Rules 304(1)(b) and 304(1)(c) are complied with. In the case of an equality of votes, the chairman will be entitled to a casting vote.
(5) The chairman will appoint a date, time and place for the hearing. The appellant and the respondent must be given reasonable notice of the hearing.
(6) Members of the Appeals Committee must notify the chairman before, or during, the hearing of any possible conflict of interest in relation to an appeal. The chairman will decide whether the member concerned should attend the hearing of that appeal. The chairman must abstain from hearing an appeal in which he may have a conflict of interest.
(7) The Appeals Committee may adjourn and reconvene its proceedings as it thinks fit. If the parties to the appeal are not attending the hearing, the Appeals Committee may hear the appeal by way of a resolution in writing.
(8) Except where it is expressly provided in the Rules, the Appeals Committee may establish its own procedures.