(iii) ISX’s removal from the official list, the suspension or ending of quotation of ISX’s securities, or a change in the category of ISX’s admission, is in ASX’s absolute discretion; (iv) ASX is entitled immediately to suspend quotation of ISX’s securities or remove ISX from the official list if ISX breaks its agreement but the absolute discretion of ASX is not limited; (a) admits that ASX’s power to suspend the shares of listed entities from quotation on the Australian Securities Exchange was and is not to be exercised for the purpose of punishing listed entities;
A few more snippets. ASX are required to adhere to the Corporations Act but have self regulated to give themselves unfettered power that is unable to be challenged and can apply discretion where they see fit. Surely ASIC, the Treasurer and I'm sure other relevant peeps would've been aware of this and yet somehow didn't question it. WRT proxy firms providing reports under the guise of "governance" the govt are aware of this too. 50 shades of financial grey to say the least
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
