short sell, page-20

ASIC has therefore made the following decisions to apply from the opening of the market on Monday, 22 September 2008 until the End Date:

Contrary to ASIC’s announcement on Friday, covered short sales for all listed stocks will now not be permitted (subject to a limited authorised market-maker exception)
ASIC will reassess and advise the market in 30 days, whether or not it will at that time, or at a later date, reopen covered short sales for non-financial stocks.

Summary of ASIC's new position on short selling until the End Date

naked short selling banned
covered short selling banned (subject to limited authorised market-maker exemption)
ASIC will reassess and advise the market in 30 days, whether or not it will at that time, or at a later date, reopen covered short sales for non-financial stocks.


End date = the implementation of the Government's short selling legislation (the End Date):