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Rules and Guidance

In addition to the Listing Rules, this section includes reference materials on: (i) Interpretation and Guidance; (ii) Forms; (iii) Other Resources; (iv) Disciplinary & Enforcement; and (v) e-Submission System.  These materials do not form part of the Rules, nor do they amend or vary any Rule requirements, or absolve issuers and/or their directors of any obligations to make their own judgment.  They speak as of their dates of issue; some information may have been superseded.  Contact the Listing Division with any queries.  The Division can be consulted on a confidential basis.

What's New

This section contains hyperlinks to materials published under “Listing - Rules and Guidance” in the last 6 months. 

Release Date (dd/mm/yyyy)

Particulars

Section

08/11/2019 Question on amendments to articles of association Interpretation and Guidance > Frequently Asked Questions
29/10/2019

•  Securities Admission into CCASS

•  Template for Acceptable Jurisdiction Application

•  Alternative Procedures for U.S. “Domestic Issuers” within the Meaning of the U.S. Securities Act with an Offering of a Security Subject to Regulation S (“Regulation S Securities”)

•  Explanation of Restrictions to Regulation S Securities of Companies Listed on the Exchange

Listing > Rules and Guidance > Other Resources >Listing of Overseas Companies
18/10/2019 Amendments to GEM Listing Rules relating to the unwinding of the delegated authority Listing Rules > Amendments to GEM Listing Rules
30/09/2019

Publication of FAQs

•  Questions on the notifiable transaction requirements relating to securities transactions (057-2019)    

•  Questions relating to H-share issuers whose domestic shares are quoted on the National Equities Exchange and Quotations (NEEQ) (068-2019 to 069-2019)

Interpretation and Guidance > Frequently Asked Questions
30/09/2019 

Publication of Guidance Letters for Listed Issuers

•  Guidance on application of the reverse takeover Rules (GL104-19)    

•  Guidance on Large Scale Issues of Securities (GL105-19)

•  Guidance on sufficiency of operations (GL106-19)

Interpretation and Guidance > Guidance Letters > Guidance Letters for Listed Issuers
30/09/2019

Updates and withdrawals of FAQs, Guidance Letters, and Listing Decisions as a result of the Rule changes on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments

•  FAQ Series 7/ Series 9

•  GL66-13/ GL68-13A/ GL69-13/ GL78-14/ GL84-15/ GL92-18/ GL95-18/ GL96-18

•  LD37-3/ LD47-5/ LD53-2/ LD62-1/ LD62-2/ LD62-3/ LD62-4/ LD75-1/ LD75-2/ LD75-4/ LD75-5/ LD76-1/ LD83-1/ LD85-1/ LD93-4/ LD95-1/ LD95-2/ LD95-3/ LD95-4/ LD95-5/ LD7-2011/ LD20-2011/ LD21-2011/ LD29-2012/ LD35-2012/ LD39-2013/ LD41-2013/ LD43-2013/ LD44-2013/ LD57-2013/ LD58-2013/ LD59-2013/ LD60-2013/ LD61-2013LD68-2013/ LD88-2015/ LD94-2016/ LD95-2016/ LD96-2016/ LD97-2016/ LD98-2016/ LD99-2016/ LD105-2017/ LD108-2017/ LD109-2017/ LD112-2017/ LD113-2017/ LD115-2017/ LD116-2017/ LD118-2018/ LD122-2019/ LD123-2019

Interpretation and Guidance
30/09/2019  Revised Checklists and Forms as a result of the Rule changes on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments Forms > Main Board Issuers
30/09/2019  Revised Checklists and Forms as a result of the Rule changes on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments Forms > GEM Issuers
30/09/2019  Updated Guide on Practices and Procedures for Post-vetting Announcements of Listed Issuers and Handling Matters involving Trading Arrangements prior to Publication of Announcements Listing > Rules and Guidance > Other Resources > Listed Issuers > Guides on the Exchange's Practices and Procedures for Handling Listing-related Matters
30/09/2019  Updates and withdrawals of FAQs

• FAQ Series 7/ Series 31
Interpretation and Guidance > Frequently Asked Questions
06/09/2019 Questions on recognition of overseas audit firms in relation to the amendments to the Financial Reporting Council Ordinance – Effective on 1 October 2019 (FAQ No.059-2019 to 067-2019) Interpretation and Guidance > Frequently Asked Questions

Other Resources > Letters to Issuers
30/08/2019 Revised Guidance on Typhoon and Rainstorm Warning Arrangements (GL31-12) Interpretation and Guidance > Guidance Letters > Guidance Letters for New Applicants
30/08/2019

•  Updated Guide on Trading Arrangements for Selected Types of Corporate Actions

•  Updated Guide on Disclosure of Record Date, Book Closure and Latest Time for Lodging Transfers of Shares

•  Updated Guide on Distribution of Dividends and Other Entitlements

•  Updated Guide on General Meetings

Listing > Rules and Guidance > Other Resources > Listed Issuers > Guides on the Exchange's Practices and Procedures for Handling Listing-related Matters
30/08/2019 Questions on the Book Closure and Emergency Share Registration Arrangements  in event of “Extreme Conditions” caused by Super Typhoons Interpretation and Guidance > Frequently Asked Questions
30/08/2019

Revised Guidance Letter as a result of the Rule changes on Proposal relating to Listed Issuers with Disclaimer or Adverse Audit Opinion on Financial Statements
•  GL95-18

Interpretation and Guidance > Guidance Letters > Guidance Letters for Listed Issuers
09/08/2019 Publication of the Exchange’s Biannual Enforcement Newsletter Disciplinary & Enforcement > Enforcement Newsletter
26/07/2019

Publication of Listing Decisions

•  Whether the Exchange would impose additional requirements under Rule 2.04 on Company A’s proposed termination of a lease agreement relating to its original entertainment business (LD122-2019)       

•  Whether the Exchange would impose additional requirements under Rule 2.04 on Company A’s proposed continuing connected transaction with Company B (LD123-2019)

Interpretation and Guidance > Listing Decisions
26/07/2019 Consultation Conclusions on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments Other Resources > Letters to Issuers
28/06/2019 Updated Guide on Trading Arrangements for Selected Types of Corporate Actions Listing > Rules and Guidance > Other Resources > Listed Issuers > Guides on the Exchange's Practices and Procedures for Handling Listing-related Matters
28/06/2019 Revised Checklists and Forms
•  CF025M
•  CF090
•  CF091
•  DR004M
•  DR005M
•  DR008M
•  DR009M
•  DR011
 Forms > Main Board Issuers
 28/06/2019 Revised Checklists and Forms
•  CF025G
•  CF090
•  CF091
•  DR004G
•  DR005G
•  DR008G
•  DR009G
•  DR011
 Forms > GEM Issuers
24/05/2019 Consultation Conclusions on Proposal relating to Listed Issuers with Disclaimer or Adverse Audit Opinion on Financial Statements Other Resources > Letters to Issuers
17/05/2019 Publication of Consultation Paper on Review of the Environmental, Social and Governance Reporting Guide and related Listing Rules, and Guidance Materials on ESG and Gender Diversity Other Resources > Letters to Issuers
17/05/2019 Updates of FAQs and Guidance Letter in respect of ESG and gender diversity:
• FAQ Series 17 and 18           
GL86-16
Interpretation and Guidance
07/05/2019 Revised Checklist and Form

FF002
Forms > Main Board Issuers
07/05/2019  Revised Checklist and Form

FF002
Forms > GEM Issuers
26/04/2019 Publication of Guidance Letter on the presentation of the non-GAAP financial measures in a listing document and any relevant documents pursuant to the Exchange’s Listing Rules

GL103-19
Interpretation and Guidance > Guidance Letters > Guidance Letters for New Applicants

Interpretation and Guidance > Guidance Letters > Guidance Letters for Listed Issuers
26/04/2019 Publication of new and revised Guidance Letters as a result of Streamlining Guidance Materials Relating to Listing Matters:

• GL32-12/ GL35-12/ GL37-12/ GL45-12/ GL102-19
Interpretation and Guidance
22/03/2019

Publication of new and revised FAQ Series and Guidance Letters as a result of Streamlining Guidance Materials Relating to Listing Matters

FAQ Series 24
GL57-13/ GL63-13/ GL68-13/ GL71-14/ GL96-18/ GL97-18/ GL100-19

Interpretation and Guidance
22/03/2019  To provide guidance on why the Exchange rejected certain listing applications (LD121-2019) Interpretation and Guidance > Listing Decisions
22/03/2019 Guidance on Sanctions Risks (GL101-19) Interpretation and Guidance > Guidance Letters > Guidance Letters for New Applicants


Updated 08 Nov 2019

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