Ann: AGM Presentation, page-334

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Beefed up listing rules strengthen censure powers

A second notable change is the substantial expansion of the ASX's powers and discretions to monitor and enforce the listing rules.

The ASX is now expressly empowered to publicly censure a listed company for an egregious breach of the ASX requirements. This is new and brings the exchange in line with other offshore exchanges.

The ASX has seemed to struggle with the dilemma regarding the extent to which it is prepared to publicly question the candour of disclosure responses made by listed companies to its enquiries, especially as they relate to continuous disclosure. One can expect to see an uptick in the ASX calling out a listed company in relation to the adequacy of those disclosures.