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Guidance Note 17 (PDF 82 KB)

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Companies Update
4 July 2007
Update no 05/07

Important information for ASX Listed Entities

NEW GUIDANCE NOTE 17

The ASX Issuers unit (ASX Issuers) is part of ASX Markets Supervision Pty Limited (ASXMS), a wholly owned subsidiary of ASX Limited (ASX) which was established to provide greater transparency and accountability of ASX's supervisory operations, strengthen market integrity and address the perception of conflict between ASX's regulatory and commercial functions. ASX Issuers has the delegated authority to make supervisory decisions regarding the rules including standard rules waivers and admission decisions.

ASXMS continues to be committed to ensuring that applications are dealt with as effectively and efficiently as possible and that the objectives of decision making which are timeliness, transparency and consistency continue to be achieved. 

However, ASX Issuers' ability to respond in a timely and consistent manner to applications depends upon the quality and completeness of submissions that are lodged by entities and their advisers. Where incomplete submissions are lodged, there may be time delays in relation to the delivery of decisions to applicants. Additionally, listing and waiver applications that involve complex or new policy issues of listing rule interpretation may be required to be referred to a delegate of ASX for consideration and decision. In such circumstances, the applicant will be advised, and this may impact the turnaround time for the decision.

An application to ASX Issuers to make a decision under the rules should include information that identifies the rule concerned and the rationale for the waiver. The application should also include supporting arguments to the requests made and where appropriate supporting evidence and reference to precedent decisions of ASX. 

To assist entities and their advisers in applying for new listings and waiver applications, ASX is issuing a revised Guidance Note 17 (PDF 82 KB), which includes a checklist outlining the minimum amount of information that will be required by ASX Issuers in relation to an application. The checklist is not intended to be exhaustive and further additional information could also be required by ASX Issuers in relation to a particular application, depending on the circumstances. 

ASX is also committed to providing greater transparency when waivers are granted and proposes to publish waiver decisions on the waivers register twice a month (unless a matter is confidential). This means that, generally, a decision is made public within 2 weeks of the decision being made.

To help keep our Listed Entities informed of information and events ASX will be sending emails to the Company Secretary's Office from time to time. You are receiving this email because you have been identified as a key contact within the Company Secretary's Office at your organisation. If you would like to update your email address please do so via the Directors/Senior Management page on ASX Online for Companies. Feel free to forward this email to any relevant parties within your organisation.