Note to subscribers for the amendments to
the rules governing the listing of securities (the "Listing Rules")
Update No. 108
Listing Rule amendments to the Corporate Governance Code and Corporate Governance Report relating to board diversity
We enclose reprinted pages of the Listing Rules and the filing instructions. The reprinted pages incorporate amendments to implement proposals in the “Consultation Conclusions on Board Diversity” published on 13 December 2012.
We have amended the Listing Rules to:
||introduce a Code Provision in the Corporate Governance Code and Corporate Governance Report that requires issuers – on a “comply or explain” basis – to have a policy concerning diversity in the board, and to disclose that policy in their Corporate Governance Report; and
||introduce a requirement that if the issuer has a board diversity policy, the disclosure in its Corporate Governance Report concerning the nomination committee should include any measurable objectives that it has set for implementing the policy, and progress on achieving those objectives.
Coming into effect
The amendments will come into effect on 1 September 2013.
Please click HERE to see the amendments to the Main Board Listing Rules relating to board diversity.
For and on behalf of
The Stock Exchange of Hong Kong Limited
Chief Regulatory Officer and Head of Listing