Yeah, some of the language is confusing, the ASX SOR states:
” In consultation with ASIC, ASX also determined that it was appropriate to suspend trading in ISX shares with immediate effect under Listing Rule 17.3, pending the outcome of ASIC’s and ASX’s enquiries.”
and
“The suspension decision was made under Listing Rule 17.3.4, which gives ASX the power to suspend trading in an entity’s securities where ASX is of the opinion that a suspension is ‘appropriate’. The suspension took place in the following context:”
However the ASX is not a person,
how can “ASX have an opinion”
how can “ASX also determined”
Does anyone with legal qualifications know if a company can have an opinion, determine anything or make a decision?
Does any reference to the company fall back to the company secretary/ directors?
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- Ann: ASX Query Letters re ISX suspension & termination by Visa
Ann: ASX Query Letters re ISX suspension & termination by Visa, page-527
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