Listing Rules and Guidance: Contents


 
 

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Apr 30 2018 onwards

8A.17
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The beneficiary's weighted voting rights in a listed issuer must cease if, at any time after listing, the beneficiary is:

(1) deceased;
(2) no longer a member of the issuer's board of directors;
(3) deemed by the Exchange to be incapacitated for the purpose of performing his or her duties as a director; or
(4) deemed by the Exchange to no longer meet the requirements of a director set out in these rules.

Note 1: The Exchange would deem a beneficiary of weighted voting rights to no longer meet the requirements of a director if, for the following reasons, the Exchange believed the person no longer has the character and integrity commensurate with the position:

(a) the beneficiary is or has been convicted of an offence involving a finding that the beneficiary acted fraudulently or dishonestly;
(b) a disqualification order is made by a court or tribunal of competent jurisdiction against the beneficiary; or
(c) the beneficiary is found by the Exchange to have failed to comply with the requirement of rules 8A.15, 8A.18 or 8A.24.

Note 2: The dealing restrictions of rule 10.06(2), the issue restrictions of rule 10.06(3) and the director dealing restrictions under Appendix 10 do not apply where the dealing or issue is solely to facilitate the conversion of shares carrying weighted voting rights into ordinary shares to comply with rule 8A.17.