Securities Markets Act (Main Board Debt Market Listing Rules) Approval of Market Rules Notice 2014

Pursuant to section 36K(1) of the Securities Markets Act 1988, the Financial Markets Authority gives the following notice.

Contents

1 Title
2 Commencement
3 Interpretation
4 Approval of market rules

Notice

1 Title

This notice is the Securities Markets Act (Main Board / Debt Market Listing Rules) Approval of Market Rules Notice 2014.

2 Commencement

This notice comes into force on 28 November 2014.

3 Interpretation

(1) In this notice, unless the context otherwise requires, -

Act means the Securities Markets Act 1988
Debt Market or NZDX means the debt security market operated by NZX
Main Board or NZSX means the main board equity security market operated by NZX
NZX means NZX Limited

(2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the same meaning as in the Act.

4 Approval of market rules

The Main Board / Debt Market Listing Rules dated 27 November 2014 are approved as listing rules for the NZSX and NZDX markets operated by NZX.

This approval is conditional on NZX issuing guidance which, to the satisfaction of the Financial Markets Authority, clarifies that a company with a market capitalisation of $50 million or less may still be considered for Listing on the NZSX where it is that company's preference to do so, and the company can demonstrate it is suitable for listing on that market.

Dated at Wellington this 28th day of November 2014

Elaine Campbell
Director of Compliance
Financial Markets Authority

Explanatory Note

This note is not part of the notice, but is intended to indicate its general effect.

This notice comes into force on 28 November 2014. The notice allows for NZX Limited to replace the Main Board / Debt Market Listing Rules dated 30 October 2013 with the Main Board / Debt Market Listing Rules dated 27 November 2014.

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