• Listing

    • 51. Applications for Listing

      (1) Admission to the Official List may be granted only on an Application made to the Regulator in such manner as may be required by Listing Rules.
      (2) No Application for Listing may be entertained by the Regulator unless it is made by, or with the consent of, the Issuer of the Securities concerned.
      (3) The Regulator may not grant an Application for Listing unless it is satisfied that —
      (a) the requirements of Listing Rules (so far as they apply to the Application); and
      (b) any other requirements imposed by the Regulator in relation to the Application;
      are complied with.

    • 52. Decision on Application

      (1) The Regulator may —
      (a) refuse an Application for Listing; or
      (b) impose conditions or restrictions, in respect of the admission of Securities to the Official List, or vary or withdraw such conditions or restrictions;
      in the circumstances specified in subsection (2).
      (2) The Regulator may exercise its powers under subsection (1) where —
      (a) the Regulator reasonably considers, for a reason relating to the Issuer of the Securities or to the Securities, that —
      (i) granting the Securities admission to the Official List would be detrimental to the interests of persons dealing in the relevant Securities, using the facilities of a Recognised Body or otherwise;
      (ii) any requirements in the Listing Rules as are applicable have not been or will not be complied with;
      (iii) any requirement imposed by the Regulator has not been or will not be complied with; or
      (iv) the Issuer of the Securities has failed or will fail to comply with any obligations applying to it, including those relating to having its Securities admitted to the Official List or listed or traded in another jurisdiction; or
      (b) it is in the interests of the Abu Dhabi Global Market to do so.
      (3) If the Regulator decides to grant an Application for Listing, it must give the Applicant written notice of its decision.
      (4) If Securities are admitted to the Official List, their admission may not be called in question on the ground that any requirement or condition for their admission has not been complied with.
      (5) Where a person has any Securities included in the Official List, such Securities shall be admitted to trading on a Recognised Investment Exchange as soon as possible.
      (6) Where any Securities included in the Official List are not admitted to trading in accordance with the requirement in subsection (5), such Securities shall be removed from the Official List.
      (7) The Regulator may, by Rules, prescribe any circumstances in which Securities admitted to the Official List need not comply with the requirement in subsection (5).

    • 53. Discontinuance and Suspension of Listing

      (1) The Regulator may, in accordance with Listing Rules, discontinue or suspend the Listing of any Securities if satisfied that there are circumstances which warrant such action or where it is in the interests of the Abu Dhabi Global Market.
      (2) The Regulator may discontinue or suspend the Listing of any Securities on its own initiative or on application of the Issuer of those Securities.
      (3) If Securities are suspended under subsection (1), they are to be treated, for the purposes of Chapter 2 of this Part, as still being listed.

    • 54. Discontinuance or Suspension: procedure

      (1) A Discontinuance or Suspension by the Regulator on its own initiative takes effect —
      (a) immediately, if the notice states that that is the case; or
      (b) in any other case, on such date as may be specified in that notice.
      (2) If on its own initiative the Regulator —
      (a) proposes to discontinue or suspend the Listing of Securities; or
      (b) discontinues or suspends the Listing of Securities with immediate effect;
      it must give the Issuer of the Securities written notice.
      (3) The notice must —
      (a) give details of the Discontinuance or Suspension;
      (b) state the Regulator's reasons for the Discontinuance or Suspension and for choosing the date on which it took effect or takes effect;
      (c) inform the Issuer of the Securities that he may make representations to the Regulator within such period as may be specified in the notice (whether or not he has referred the matter to the Regulatory Committee);
      (d) inform him of the date on which the Discontinuance or Suspension took effect or will take effect; and
      (e) inform him of his right to refer the matter to the Regulatory Committee.
      (4) If, having considered any representations made by the Issuer of the Securities, the Regulator decides —
      (a) to discontinue or suspend the Listing of the Securities; or
      (b) if the Discontinuance or Suspension has taken effect, not to rescind it;
      the Regulator must give the Issuer of the Securities written notice.
      (5) If the Regulator decides —
      (a) not to discontinue or suspend the Listing of the Securities; or
      (b) if the Discontinuance or Suspension has taken effect, to rescind it;
      the Regulator must give the Issuer of the Securities written notice.
      (6) A notice under subsection (4) shall inform the Issuer of his right to refer the matter to the Regulatory Committee.
      (7) The effect of rescinding a Discontinuance is that the Securities concerned are to be readmitted automatically to the Official List.

    • 55. Discontinuance or Suspension at the request of the Issuer: procedure

      (1) A Discontinuance or Suspension by the Regulator on the application of the Issuer of the Securities takes effect —
      (a) immediately, if the notification under subsection (2) so provides;
      (b) in any other case, on such date as may be provided for in that notification.
      (2) If the Regulator discontinues or suspends the Listing of Securities on the application of the Issuer of the Securities, it must notify the Issuer (whether in writing or otherwise).
      (3) The notification must —
      (a) notify the Issuer of the date on which the Discontinuance or Suspension took effect or will take effect; and
      (b) notify the Issuer of such other matters (if any) as are specified in Listing Rules.
      (4) The Regulator may cancel the Suspension of the Listing of any Securities on the application of the Issuer of those Securities if the Suspension was carried out on the application of the Issuer.
      (5) If the Regulator has suspended the Listing of Securities on the application of the Issuer of the Securities and the Issuer applies for the cancellation of the Suspension, the Regulator must give him written notice of its decision if the Regulator decides to grant the application.