2.22 Change or Intended Change
Without prejudice to any other provisions of this Rules, every Clearing Member shall forthwith notify the Clearing House upon, or where practicable, pre-notify the Clearing House of, the happening of all or any of the following events:—220.127.116.11 except for a Bank Clearing Member, any change in the legal or beneficial ownership of 20% or more of such Clearing Member's share capital and any subsequent increase of 5% or more of such Clearing Member's share capital;18.104.22.168A in the case of a Bank Clearing Member:(a) any change in the legal or beneficial ownership of that Bank Clearing Member's share capital ; and(b) any subsequent increase of that Bank Clearing Member's share capitalabove any thresholds imposed by any law or regulation to which that Bank Clearing Member is subject.22.214.171.124 any change in any circumstances which will have or may have the effect of altering the control of itself;126.96.36.199 any change in the composition of its board of directors or of any director, or in the case of a Bank Clearing Member, any change in the composition of its board of directors or of any director, who are/is resident in Singapore and/or responsible for its business governed by this Rules, due to the appointment, removal or resignation of any of its directors. For the purpose of this Rule 188.8.131.52, a change of director includes a change in the director's appointment from a non-executive director to an executive director;184.108.40.206 any change in its name;220.127.116.11 any change or amendment to its Memorandum or Articles of Association or constitutive documents, notice of which should be given at least seven (7) days prior to the change or amendment being effected, except in the case of a Bank Clearing Member, notification will be furnished to the Clearing House by such times that a Bank Clearing Member has to notify MAS under the Banking Act 1970, or any regulation or directive issued thereunder;18.104.22.168 any death or bankruptcy of any of its directors or in the case of a Bank Clearing Member, its directors who are resident in Singapore and/or responsible for its business governed by this Rules;22.214.171.124 the engagement or involvement or proposed engagement or involvement in any new business or any change in any of its business(es) or in the case of a Bank Clearing Member, its business governed by this Rules. For the purpose of this Rule 126.96.36.199, examples of such new business or change in business include, without limitation, market making and product financing activities;188.8.131.52 any change in its senior management, or in the case of a Bank Clearing Member, its senior management responsible for the Bank Clearing Member's business governed by this Rules; and184.108.40.206 any application is contemplated or proposed to be made by the Clearing Member for registration as an FCM with the CFTC.
Such notice or pre-notification shall be in writing and shall be supplied with full particulars of the relevant event together with such further information as the Clearing House may require.
The Clearing House may upon the happening of any of the events described in the preceding Rules 220.127.116.11 to 18.104.22.168 require such Clearing Member to submit itself within five (5) days of the date of its notice (or within such longer period as may be permitted in writing by the Exchange) for re-election as though applying for Clearing Membership for the first time.