1. Pre-clearance of Trade
Before a director or designated Employee trades in the Bank’s securities, they must first:
Prior Approval: Any insider must notify the Person In-charge and obtain written approval, prior to the submission of any order to a licensed broker to buy or sell the Bank’s securities.
Validity of Approval: The Person In-charge approval shall be valid for not more than 20 calendar days from the date of approval, which will be indicated when the approval is granted. After this time, the approval is no longer valid and new approval will be required.
Withdrawal of Approval: The Person In-charge shall have the authority to withdraw or cancel the approval so granted to any insider by a notice in writing, if during the validity of approval there is any new development that may affect the Bank’s securities price