Ann: Application to ASIC to administer the listing rules, page-197

I disagree with this philosophy.

I think ASX should not be able to suspend where a query notice is required.

I think if a query notice is required, that ASX should send its concerns to ASIC as per the MOU. Then ASIC can use its market enforcement powers if a suspension is required and conduct the investigation. ASX should relinquish the powers it is not equipped to handle.

There should be no 2 way sharing of information between ASX and ASIC as set out in the memorandum of understanding. ASIC should direct ASX as to how to operate these companies with which ASX is concerned with.

ASX should only be able to suspend for minor infractions such as when a company is late with a disclosure ie financial reporting or late with paying fees etc.

The above scenarios would be best in my view. This would 1- reaffirm the pecking order between ASIC and ASX and 2- make ASIC regulate the markets for which they are responsible for.