9.7 New Legislation

a. If the Directors shall, after consultation with the Relevant Clearing House, in their absolute discretion determine that a change of legislative or administrative provisions of Singapore, any other country, the European Union or any international organization, or of institutions or market organizations in any country or group of countries, (including, without prejudice to the generality of the foregoing, a change in respect of duties or taxes) has affected, is affecting or is likely to affect the normal course of business of the Exchange or the Market, the Directors shall have the power (without prejudice to their powers under any other provision of the Rules) to vary the Contract Rules and Administration Procedures in any way they deem necessary or desirable for the preservation of the orderly course of business.

b. Such variation may be made notwithstanding that it may affect the performance or value of existing Contracts (or such existing Contracts as may be specified by the Directors). Without limiting their powers hereunder, the Directors will use their best endeavours to keep any such variation to the minimum that they consider reasonably necessary to deal with the situation.

c. The Directors’ powers under this Rule shall be exercisable by notice posted on the Market. Any variation made under this provision shall take effect at such time and for such period as the Directors shall prescribe, but (without prejudice to the preceding paragraph) shall not take effect earlier than the posting up of the notice on the Market.

d. Every Contract affected by a variation under this Rule shall remain in full force and effect subject to such variation and shall not be treated as frustrated or repudiated except so far as may be allowed in the Directors’ notice.

e. Any notice published by the Directors under this Rule may be varied or revoked by a subsequent notice.

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