Financial Markets Act, 2012 (Act No. 19 of 2012)Chapter III : Preliminary ProvisionsFunctions of licensed exchange13. Application of amended listing requirements to previously listed securities |
| (1) | Amended listing requirements may be applied by the exchange to securities listed before the amendment of the listing requirements, by notice in writing to the issuer of such listed securities. |
| (2) | Listing requirements so applied take effect from a date determined by the exchange, which date must not be earlier, except when special circumstances justify an earlier date, than one month after the date on which the exchange so notifies the issuer, but the exchange may postpone the former date on written request by the issuer. |
| (3) | If an exchange refuses a request for a postponement in terms of subsection (2) the issuer concerned may make representations in writing to the Authority, and if the request for a postponement is reasonable, the Authority may, after consultation with the exchange, postpone the date on which the listing requirements take effect by not more than three months and must inform the exchange accordingly in writing. |