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Companies Update 09/05

Proposed Listing Rule Amendments

Attachment A 
(PDF 96KB)

Attachment B 
(PDF 183KB)

Companies Update
17 October 2005
Update no 10/05

Important information for ASX Listed Entities

Proposed Listing Rule Amendments - Effective Date 24 October 2005

On 12 October 2005 ASX advised in the previous Companies Update that it had formally lodged with ASIC on 23 September 2005 many of the listing rule amendments exposed in September 2004.

ASX has now determined that, subject to the Minister not disallowing the rule amendments that were formally lodged, the date that those amended rules will come into effect will be 24 October 2005.

As indicated in the preceding Companies Update, not all listing rule amendments suggested in ASX's September 2004 Exposure Draft will be coming into effect on 24 October 2005. Listing rules, to which amendments were proposed in the September 2004 Exposure Draft, and which are not proceeding are:

  1. listing rule 1.3.3(a) (working capital statement in product disclosure statements);
  2. listing rule 3.10A (proposed deletion of requirement to tell ASX if securities being released from escrow agreement);
  3. listing rule 10.18 (termination benefits of officers on change of shareholding or control);
  4. listing rule 6.18 (percentage options);
  5. listing rules 7.8 and 14.11 (recognition of trustees holding on behalf of beneficial owners). Only those amendments to listing rule 14.11 proposed in Section 11 of the Exposure Draft will not proceed. The less substantial amendments to listing rule 14.11.1 proposed in Section 13 are still intended to proceed; and
  6. all of the amendments relating to Exchange Traded Funds which was set out in Section 12 of the Exposure Draft.

A Reference Table of listing rules which will be coming into effect on 24 October 2005, subject to Ministerial non-disallowance, accompanies this Companies Update as Attachment A (PDF 96KB). The Table identifies the relevant listing rule number, the subject matter of that listing rule and where the amendments to the listing rule can be found in the Exposure Draft.

In the Reference Table, if the third column opposite a listing rule contains an asterisk instead of a reference to the relevant section in the Exposure Draft, it is because the amended listing rule now varies from what was set out in the Exposure Draft. Asterisks in the Reference Table indicate rule amendments which were proposed in one form in the Exposure Draft but which will be brought into effect in a somewhat different amended form - the up-to-date version of these rules is set out in Attachment B (PDF 183KB). 

The full text of the amended rules should be available on the ASX website on 24 October 2005. 

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.