Entire Section

  • SPAC Directors

    • 18B.12

      At listing of the SPAC and on an ongoing basis for the lifetime of the SPAC, in addition to meeting the requirements of these rules, any director nominated by a SPAC Promoter for appointment to the board of a SPAC must be an officer (as defined under the SFO) of the SPAC Promoter (whether or not Commission licensed) representing the SPAC Promoter who nominated him or her.

      Note:    Where a SPAC Promoter is an individual, that person must be a director of the SPAC.
       

    • 18B.13

      At listing of the SPAC and on an ongoing basis for the lifetime of the SPAC, the board of a SPAC must include at least two individuals licensed by the Commission to carry out Type 6 (advising on corporate finance) and/or Type 9 (asset management) regulated activities for a Commission licensed corporation.

    • 18B.14

      At least one of the individuals referred to in rule 18B.13 must be a licensed person of a SPAC Promoter referred to in rule 18B.10(1).