Financial Markets Act (Cap. 345), article 39J

39J. (1) Where the competent authority proposes to remove or requires the removal of a listed financial instrument from l isting on an authorized regulated market, i t must give the issuer of such financial instrument w ritten notice thereof. (2) A notice given in terms of sub-article (1) shall: (a) provide details in relation to the proposed removal of the listed financial instrument from listing on an authorized regulated market; (b) state the competent author ity’s reason for the proposed removal of such listed financial instrument from listing on an authorized regulated market, provided that the interest of an auth orized regulated market, the general public or the investors shall constitute sufficient reason therefor; (c) inform the issuer of such listed financial instrument that he may make representations to the competent authority within such period as may be specified in the notice; and (d) specify the period within which the proposed removal of such listed financial instrument from listing on an authorized regulated market would take effect. (3) The competent authority may extend the period within which representations may be made to it. (4) If, having considered any representations made to it by the issuer of the listed financial i nstruments, the competent autho rity decides to remove a listed financial instrument from listing on an authorized regulated market, the competent authority shall give the issuer of such listed financial instrument written notice of it s decision. (5) The removal of a listed financial instrument from listing on an authorized regulated market shall take effect on such date a s may be specified in the noti ce under sub-article (4). Power to issue directives. Added by: XLVI.2021.48.