LR 5.5 Miscellaneous

The decision-making procedures that the FSA will follow when it cancels, suspends or to refuses a request to restore listing are set out in DEC (the Decision Making manual).

1. (1)

   The FSA will not automatically suspend, cancel or restore the listing of securities at the request of an overseas exchange or overseas authority (for example, if listing of a secondary listed issuer's securities are suspended, cancelled or restored on its home exchange).

2. (2)

   The FSA will not normally suspend the listing of securities where there is a trading halt for the security on its home exchange.

3. (3)

   If a secondary listed issuer requests a suspension, cancellation or restoration of the listing of its securities, after a suspension, cancellation or restoration on its home exchange, the issuer should send to the FSA written confirmation:

   1. (a)

      that the suspension, cancellation or restoration of listing on its home exchange has become effective; or

   2. (b)

      if it has not yet become effective, of the time and date it is proposed to become effective.

4. (4)

   If an overseas exchange or competent authority requests the FSA to suspend, cancel or restore the listing of securities, the FSA will, wherever practical, contact the issuer or its sponsor before it suspends, cancels or restores the listing. Therefore, issuers are encouraged to contact the FSA at the same time as they contact their home exchange.

5. (5)

   If the FSA is unable to contact the issuer or sponsor, it will suspend, cancel or restore the listing of the securities when it is satisfied that the listing of the relevant securities has been, or will be, suspended, cancelled or restored on their home exchange.