Singapore legislation
Regulation 6
of Securities and Futures (Organised Markets) Regulations 2018
Regulation 6
Minimum requirements for approval or recognition
Subregulation 1
For the purposes of section 9(7) of the Act, the Authority must not approve an applicant as an approved exchange unless the applicant is able to maintain a base capital of $10 million.
Subregulation 2
[Deleted by S 332/2019 wef 26/04/2019]
Subregulation 3
In this regulation, “base capital” means the amount calculated from the formula A + B + C – D – E, where —
A is the paid‑up ordinary share capital of the corporation as set out in the latest balance‑sheet of the corporation;
B is the paid‑up irredeemable and non‑cumulative preference share capital of the corporation as set out in the latest balance‑sheet of the corporation;
C is the amount of any unappropriated profit or loss in the latest audited accounts of the corporation;
D is the amount of any interim loss in the latest profit and loss statement of the corporation; and
E is the amount of any dividend that has been declared since the latest audited accounts of the corporation.