(1) Subject to the review procedures set out in Chapter 7, the Rules are interpreted, administered and enforced by the Exchange and the decisions and requirements of the Exchange are conclusive and binding on an issuer. The Exchange may at any time vary its decision in any way, or revoke it. It may do so upon the application of the issuer or of its own accord and at its absolute discretion. The variation or revocation will take effect from the date specified by the Exchange. 

(2) An issuer admitted to the Official List must comply with the Rules:

(a) in accordance with the spirit, intention and purpose; and

(b) by looking beyond form to substance. 

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.

Where the Exchange rejects an application made pursuant to the Rules, it may, if it considers it appropriate, disclose the reasons for its decision but is under no obligation to do so.

(1) The Rules may be amended by the Exchange from time to time, subject to such approval as may be required by applicable law. 

(2) The Exchange may, from time to time, issue Practice Notes or amend existing Practice Notes to provide guidance on the interpretation and application of any Rule or a more detailed prescription of a Rule. 

(3) The Exchange may, from time to time, publish transitional arrangements in relation to any amended or new Rule.