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).