Share registrar
2.10
How does a listed corporation ensure compliance with Rule 2.21A of the ACE LR in relation to the appointment of its share registrar?
The requirements under Rule 2.21A of the ACE LR set out the general criteria and factors to be taken into account by a listed corporation when appointing and retaining a share registrar. The main objectives of the requirements are to facilitate the appointment and retainment of suitable share registrars who are able to ensure the proper performance of the listed corporation's obligations under the ACE LR and provide better quality services in a professional manner.
Hence, a listed corporation in appointing a share registrar, must be satisfied that the share registrar is able to provide the services that meet with its needs and expectations in line with the objectives of the requirements. For this purpose, the listed corporation may, amongst others:
(a)
make reasonable due enquiries to ensure and satisfy itself that the share registrar complies with Rule 2.21A of the ACE LR prior to the appointment of the share registrar; and
(b)
reflect the relevant provisions in Rule 2.21A of the ACE LR in the terms of engagement or service agreements entered into between the listed corporation and the share registrar, where appropriate.