Background

On 1 December 2019, changes were made to the ASX Listing Rules to require the person who is appointed to be responsible for communication with ASX in relation to listing rule matters (ASX Contact) to have completed an approved listing rule compliance course and attained a satisfactory pass mark in the examination for that course.

The implementation of these changes had been deferred to enable ASX to replace its learning management system.

This has been completed and the listing rule compliance course is now available and is free to access and complete, vis this LINK.

Effective date

On 5 April 2022, the ASX announced that the listing rule compliance course changes will come into effect from 1 July 2022.

However, in order to assist listed entities to transition to the new compliance course regime, ASX has allowed a transition period running from 1 July 2022 to 30 September 2022.

Requirements during and after the transition period

The following requirements apply during and after the transition period:

1. Existing listed entities appointing a new ASX Contact

An ASX Contact appointed by an existing listed entity during the transition period must complete and pass the course and email a copy of their completion certificate to the listings adviser for their entity, by no later than 14 October 2022.

2. Entities that are listed (or re-listed) during the transition period

ASX Contacts who are appointed by an entity that is listed (or re-listed) during the transition period must complete and pass the course and email a copy of their completion certificate to the listings adviser for their entity, by no later than 14 October 2022.

3. After the transition period

On and from 1 October 2022:

• Any new nominated ASX Contact will need to complete and pass the course prior to their appointment; and
• The nominated ASX Contact of any entity that is to be listed (or re-listed) must complete and pass the course prior to that entity’s listing (or re-listing).

If the nominated ASX contact has already passed the course on behalf of a different listed entity they are not required to pass it again.

Existing ASX Contacts

The ASX Contact of an existing listed entity who was appointed before 1 July 2022 does not need to complete and pass the course in order to remain the ASX Contact for that entity.  However, if they are to be appointed as the ASX Contact for another listed entity after 1 July 2022, they must first complete and pass the course.

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For more information, please contact any member of the Sierra Legal team, whose contact details can be found here (LINK).