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11.16

Property interests of an applicant's property activities must have, in respect of a substantially major portion of its PRC properties, long-term title certificates and/or, in respect of a substantially major portion of its properties not situated in the PRC, other appropriate evidence of title, regardless of whether such properties are completed or still under development.

Note: For the purposes of rules 11.16 to 11.19:—

(1) a "property activity" has the same definition as defined in rule 8.01(2); and
(2) the Exchange has a discretion to decide on whether or not any title certificate constitutes a "long term" title certificate.