Regulatory Alerts2023-01-15
Securities and Commodities Authority Regulations 2022: Regulatory Bylaw No. 3 on Suspension and Delisting of Companies
The Securities and Commodities Authority issued Bylaw No. 3 of 2022 to establish the legal framework for suspending and delisting listed companies from the market. The regulations define specific grounds for suspension, including regulatory breaches, disclosure failures, and investor protection needs, while outlining procedures for voluntary suspension requests and the conditions for lifting suspension. Furthermore, the bylaw details the criteria for delisting, such as liquidation, bankruptcy, or prolonged trading halts, and sets forth the procedural requirements for companies to voluntarily apply for delisting based on low trading volume or shareholder approval.
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