It generally has to be a pretty serious infraction of the rules/laws that requires a pre-emptive delisting by the $ASX!
Much more commonly a company will be put into suspension and they either fail to pay listing fees or the 2 year deadline runs out - 2 years is seen as a “fair & reasonable period for a company’s management to exhaust all avenues to relist”!
All in MY UNSUBSTANTIATED OPINION
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