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ASX
operates a market for securities, derivatives and fixed
interest securities issued by listed companies. It is the
holder of an Australian market licence under the Corporations
Act.
To
protect the integrity of its market, ASX has standards for
the behaviour of listed entities through its Listing Rules.
The Issuers unit makes day-to-day decisions about the application
of the ASX Listing Rules. Guidance Notes are also published
to assist listed companies and their advisers to understand
how certain Listing Rules and procedures operate.
The
Listing Rules govern the admission of companies to the official
list, quotation of their securities, suspension of securities
from quotation and removal of companies from the official
list. They also govern continuous and periodic disclosure
and some aspects of a listed company’s conduct. Compliance
with the Listing Rules is a requirement for admission to
the official list. It is also a requirement under the contract
that a company enters into on being admitted.
The
Listing Rules are not only binding contractually. They are
enforceable against listed companies under the Corporations
Act. The Listing Rules create obligations that are additional,
and complementary, to common law obligations and statutory
obligations.
The
Listing Rules are not black letter law, rather they are
based on principles which take into account the interests
of listed companies, maintenance of investor protection
and the need to protect the reputation of the market.
The
Issuers unit makes day-to-day decisions on the application
of the Listing Rules. Guidance Note 17: ASX Companies (PDF
96KB) and Guidance Note 21: Appeals (PDF 35KB) provide further
details of how decisions are made by the Issuers Unit and
the appeal process which is available in respect of these
decisions.
For
More infromation:
Australian
Stock Exchange (ASX)
ASX
Listing Rules
ASX
Listing Rules Appendices
ASX
Listing Rule Waivers
ASX
Listing Rule Guidance Notes
Which
solicitors practise in this area?
Our
solicitors who practise in this area are
Reference:
http://www.asx.com.au/supervision/rules_guidance/listing_rules.htm
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