ASX

Listed@ASX

Compliance Update 14 October 2019
Update no 09/19

1. Major Listing Rule reforms to come into effect 1 December 2019

On 10 October 2019, ASX Limited (“ASX”) released its response to the submissions it received on its 28 November 2018 consultation paper Simplifying, clarifying and enhancing the integrity and efficiency of the ASX listing rules. The consultation paper proposed a broad range of changes to the ASX Listing Rules and related guidance.

Accompanying the consultation response are:

the final changes ASX is making to its Listing Rules addressing the feedback received in consultation submissions, along with a mark-up comparing the final version of the rule changes to the consultation version.
mark-ups of the changes ASX is making to the consultation versions of the following Guidance Notes:
mark-ups of the changes ASX is making to the existing versions of the following Guidance Notes (these were not included in the consultation package):
a mark-up of the changes ASX is making to the 15 April 2019 version of GN 33 Removal of Entities from the ASX Official List.
a new GN 35 Security Holder Resolutions.
mark-ups of the changes ASX is making to the consultation versions of the following Listing Rule Appendices:
mark-ups of the changes ASX is making to the existing versions of the following Listing Rule Appendices (these were not included in the consultation package):
- Appendix 4C Quarterly Cash Flow Report for Entities Subject to Listing Rule 4.7B
- Appendix 5B Mining Exploration Entity and Oil and Gas Exploration Entity Quarterly Cash Flow Report.

Subject to the receipt of the necessary regulatory approvals, with two exceptions, the final rule changes and all of the revised Listing Rule Appendices and Guidance Notes above will come into effect on 1 December 2019.

The first exception is the changes to Listing Rule 1.1 condition 13 and Listing Rule 12.6 to require the person who has been appointed by an entity to be responsible for communication with ASX in relation to listing rule matters to have completed an approved education course and examination covering listing rule compliance matters. To allow more time to complete the development of ASX’s online education course and examination, ASX has decided to push back the transition date for these particular rule changes to 1 July 2020.

The second exception is the changes to the Appendix 4C and Appendix 5B quarterly cash flow reports, which will come into effect for the quarter beginning 1 January 2020 and ending 31 March 2020.

Listed entities with any questions about the rule and guidance changes should direct them to their ASX listings adviser.

2. Free national roadshow on Listing Rule reforms and update on CHESS replacement

ASX will be conducting a national roadshow in October/November 2019 to inform listed entities and other interested stakeholders about the Listing Rule reforms mentioned above. ASX will also take the opportunity to update listed entities on progress with CHESS replacement including timing, features and benefits both on "day one" and in the future.

The dates, venues and registration links for the roadshow events are listed below. If you have questions please contact ASX at asxerp@asx.com.au.