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Jul 5 2012 - Aug 20 2014Aug 21 2014 onwards

32. Listing Rules Requirements



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(1) The listing rules of an Authorised Market Institution shall contain such provisions as are prescribed in the Rules.
(2) Subject to Article 32(3), the DFSA may direct an Authorised Market Institution to:
(a) make listing rules within a specified period; or
(b) amend specified listing rules in the manner and within the period prescribed.
(3) The DFSA may only direct an Authorised Market Institution in accordance with Article 32(2) if it has first requested the Authorised Market Institution to make or amend specified listing rules and the Authorised Market Institution has failed to comply with that requirement within the period specified by the DFSA in its request.
(4) The procedures in Schedule 3 to the Regulatory Law 2004 apply to a decision of the DFSA under Article 32 (2).
(5) If the DFSA decides to exercise its power under Article 32(2), the Authorised Market Institution may refer the matter to the FMT for review.
(6) Where the DFSA maintains an Official List of Securities, it shall, by Rules, prescribe the relevant listing rules. Such listing rules shall include requirements relating to:
(a) procedures for admission of Securities to its Official List of Securities including;
(i) requirements to be met before Securities may be granted admission to an Official List of Securities; and
(ii) agreements in connection with admitting Securities to an Official List of Securities;
(b) enforcement of the agreements referred to in Article 32(6)(a)(ii);
(c) procedures for suspension and delisting of Securities from an Official List of Securities;
(d) the imposition on any person of obligations to observe specific standards of conduct or to perform, or refrain from performing, specified acts, reasonably imposed in connection with the admission of Securities to an Official List of Securities or continued admission of Securities to an Official List of Securities;
(e) penalties or sanctions which may be imposed by the DFSA for a breach of the listing rules;
(f) procedures or conditions which may be imposed, or circumstances which are required to exist, in relation to matters which are provided for in the listing rules;
(g) actual or potential conflicts of interest that have arisen or might arise when a person seeks to have Securities admitted to an Official List of Securities; and
(h) such other matters as are necessary or desirable for the proper operation of the listing rule process and the market.