blr dilemma., page-8

Disclosure rules regarding directors interests in their company.

The Listing Rules requirements complement those of the Corporations Act. The Listing Rules require listed entities to notify ASX within five days of certain interests in securities held by directors at the time of commencing and ceasing to be directors, as well as any changes to a director’s interests in securities while holding office.

The Corporations Act requires every director of a listed company to notify ASX (or the exchange on which they are listed) within 14 days about holdings and changes to relevant interests, no matter how small, in securities of the company of which they are a director.

In October 2005, ASX and ASIC undertook a joint campaign to increase awareness among listed public company directors of their obligations to notify directors’ interests under the Listing Rules and the Corporations Act and to ensure a high level of compliance.