Listed issuers with inadequate level of operations

8.14

Which regularization obligation must a listed issuer comply with in the following scenarios:

Scenario 1
The listed issuer first triggers the criteria for inadequate level of operations set out in paragraph 8.03A of the Main LR and subsequently triggers the Prescribed Criteria set out in Practice Note 17.
Scenario 2
The listed issuer first triggers the criteria for inadequate level of operations set out in paragraph 8.03A of the Main LR and subsequently triggers the Cash Criterion in paragraph 8.03 of the Main LR.
The general principle is that the listed issuer must comply with the stricter obligations.
Hence in Scenario 1, the listed issuer must comply with the obligations imposed on a PN17 Issuer under paragraph 8.04 and Practice Note 17 of the Main LR
In Scenario 2, the listed issuer must comply with the obligations imposed on a Cash Company under paragraph 8.03 and Practice Note 16 of the Main LR.
In both the Scenarios, the timeframe for the listed issuer to regularize its condition commences 12 months from the date the listed issuer announces that it triggers the criteria for inadequate level of operations under paragraph 8.03A of the Main LR.