*“Net Capital” means the amount by which current assets exceed liabilities, less such other items as may be specified in any Guidance Note issued by the Exchange, and in determining Net Capital:
(a) unrealised profits shall be added and unrealised losses shall be deducted in the accounts of the Member; and
(b) “current assets” and “liabilities” shall be computed in accordance with any Guidance Note issued by the Exchange.
** Accredited Investor means
(a) an individual:
(i) whose net personal assets exceed in value the minimum amount of S$2 million (or its equivalent in a foreign currency); or
(ii) whose income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency);
(b) a corporation with net assets exceeding S$10 million in value (or its equivalent in a foreign currency), as determined by:
(A) the most recent audited balance-sheet of the corporation; or
(B) where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which date shall be within the preceding 12 months;
(c) the trustee of a trust of which all property and rights of any kind whatsoever held on trust for the beneficiaries of the trust exceed S$10 million in value (or its equivalent in a foreign currency);
(d) an entity (other than a corporation) with net assets exceeding S$10 million in value (or its equivalent in a foreign currency);
(e) a partnership (other than a limited liability partnership within the meaning of the Limited Liability Partnerships Act (Chapter 163A of Singapore) in which each partner is an Accredited Investor; or
(f) a corporation, the sole business of which is to hold investments and the entire share capital of which is owned by one or more persons, each of whom is an Accredited Investor.