The Exchange operates Catalist in accordance with Section B of the Listing Manual, with a view to promoting a fair, orderly and transparent market.

In general:

Amended on 7 February 20207 February 2020.

The Rules seek to secure and maintain confidence in the market. The underlying principles of the Rules include the following:

Amended on 29 September 201129 September 2011.

Subject to the review procedures set out in Chapter 3, the Rules are interpreted, administered and enforced by the Exchange.

Amended on 29 September 201129 September 2011 and 7 October 20157 October 2015.

The Exchange may impose additional requirements or make any listing subject to special conditions whenever it considers it appropriate.

The Exchange may waive or modify compliance with a Rule (or part of a Rule) either generally or to suit the circumstances of a particular case, unless the Rule specifies that the Exchange will not waive it. The Exchange may grant a waiver subject to such conditions, as it considers appropriate. If the Exchange waives a Rule (or part of a Rule) subject to a condition, the condition must be satisfied for the waiver to be effective. Where a waiver is granted, the issuer must announce the waiver, the reasons for seeking the waiver and the conditions, if any, upon which the waiver is granted as soon as practicable. Applications for waivers should be submitted through the issuer's sponsor.

Amended on 29 September 201129 September 2011.

Where the Exchange rejects an admission, or other application made pursuant to Section B of the Listing Manual, it may, if it considers it appropriate, disclose the reasons for its decision but is under no obligation to do so.

A listing applicant shall appoint a full sponsor in order to be eligible for listing on Catalist.

An issuer shall retain a sponsor at all times and seek advice from its sponsor regarding compliance with the Rules wherever appropriate, giving due consideration to such advice.

An issuer shall ensure that its directors accept responsibility, collectively and individually, for the issuer's compliance with the Rules.

Directors and proposed directors of an applicant (following admission, the issuer) are responsible for the accuracy of the information submitted to the Exchange. Generally, the Exchange expects information to be submitted through the sponsor. The sponsor shall exercise due care and diligence in respect of all information that is submitted through it. The Exchange must be kept informed of all matters which should be brought to its attention.

Applicants, issuers, sponsors and registered professionals must pay such fees and charges as prescribed by the Exchange from time to time. The Exchange may waive any fee or charges.

Amended on 25 September 201525 September 2015.

The fees payable are published by the Exchange from time to time.

When the Exchange publishes or releases an issuer's announcement on its behalf, the Exchange shall not be responsible to check the accuracy of the facts or any of the contents of such announcement, and shall not be liable for any damages or losses however arising as a result of publishing the announcement or disseminating the information in the announcement. The issuer shall indemnify the Exchange for any such losses or damages or costs, including any arising as a result of legal proceedings brought by any third party.

Neither the Exchange nor any servant or agent of the Exchange, nor any member of the advisory panel, Disciplinary Committee or Appeals Committee is liable to any sponsor applicant or sponsor (including any director, officer, registered professional, employee or agent of the sponsor) for performing its functions under the Rules. This limitation of liability extends to any actions whether in contract or tort or otherwise, and applies even in the purported performance of a function in good faith.