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Up to May 1 2010May 2 2010 onwards

18. Listing Rules Requirements



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(1) The listing rules of an Authorised Market Institution or the DFSA shall include rules in relation to:
(a) applications for admission to an Official List of Securities;
(b) requirements to be met before Securities may be granted admission to an Official List of Securities;
(c) agreements in connection with admitting Securities to an Official List of Securities;
(d) the enforcement of those agreements in (c);
(e) the suspension and de-listing of Securities from an Official List of Securities;
(f) 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;
(g) penalties or sanctions which may be imposed by an Authorised Market Institution or the DFSA for a breach of the listing rules;
(h) 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;
(i) dealing with possible conflicts of interest that might arise when a person seeks to have Securities admitted to an Official List of Securities;
(j) such other matters as are necessary or desirable for the proper operation of the listing rules and process; and
(k) any other matters prescribed by the Rules made by the DFSA for the purpose of this Article.
(2) Applications for the admission of Securities to an Official List of Securities shall be made by the issuer of the Securities, or by a third party on behalf of and with the consent of the issuer of the Securities.
(3) An Authorised Market Institution shall only amend its listing rules in accordance with the Rules made by the DFSA for this purpose.
(4) Subject to Article 18(5) the DFSA may by written notice 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.
(5) The DFSA may only direct an Authorised Market Institution in accordance with Article 18(4) 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.