Past version: Effective from 07 Oct 2015 to 31 Dec 2018
(1) An issuer must procure undertakings to comply with the Exchange's listing rules from all its directors and executive officers (in the form set out in Appendix 7.7) and submit the undertakings to the Exchange if required. An issuer must comply with Rule 210(5), Rule 221 (if applicable) and Rule 210(9)(e) (if applicable) on a continuing basis.
(2) Without limiting the generality of the foregoing, where a director is disqualified from acting as a director in any jurisdiction for reasons other than on technical grounds, he must immediately resign from the board of directors of the issuer. An announcement containing the details in Appendix 7.4.2 must be made.
(3)
(a) The Exchange may require an issuer to obtain the approval of the Exchange for the appointment of a director, a chief executive officer and chief financial officer (or its equivalent rank).
(b) The circumstances under which the Exchange may effect Rule 720(3)(a) include but are not limited to:—
(i) Where the issuer is the subject of an investigation into the affairs of the issuer by a special auditor appointed under Rule 704(12), or a regulatory or enforcement agency;
(ii) Where the integrity of the market may be adversely affected;
(iii) Where the Exchange thinks it necessary in the interests of the public or for the protection of investors; and
(iv) Where the issuer refused to extend cooperation to the Exchange on regulatory matters.
(c) The Exchange will give prior notice to the issuer where 3(a) is applicable.
(4) [deleted]
Amended on 29 September 201129 September 2011, 27 September 201327 September 2013 and 7 October 20157 October 2015.