4.3 Automatic De-Registration

A Chief Executive Officer shall automatically cease to be registered as a Chief Executive Officer, and the Clearing Member shall immediately notify CDP, if he or she:—

(1) becomes of unsound mind;
(2) is made bankrupt, whether in or out of Singapore;
(3) is disqualified from holding office as a director under the SFA or the Companies Act (Chapter 50), or in the case of a Bank Clearing Member, if he or she is no longer in the direct employment of, or acting for or by arrangement with, the Bank Clearing Member or is no longer principally responsible for the management and conduct of the Bank Clearing Member's business;
(4) ceases to be a Chief Executive Officer of the Clearing Member;
(5) is subject to a compromise or scheme of arrangement with his or her creditors, whether in or out of Singapore;
(6) has execution in respect of a judgment debt returned unsatisfied in whole or in part; or;
(7) is convicted of an offence involving fraud or dishonesty or is found by a court of law to have acted fraudulently or dishonestly, in each case whether in or out of Singapore.

Amended on 1 July 20081 July 2008 and 3 June 20193 June 2019.