ASX Listing Rules

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 (and other entities) to the official list, quotation of their securities, suspension of securities from quotation and removal of entities from the official list.  They also govern continuous and periodic disclosure and some aspects of a listed entity’s conduct.  Listed entities must comply with the Listing Rules.
 
The Listing Rules constitute a contract between ASX and listed entities.  They are also enforceable against listed entities 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 based on principles which take into account the interests of listed entities, 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.