The Companies (Summary Financial Reports of Listed Companies) Regulation came into operation on 4 January 2002. It was issued pursuant to the Companies (Amendment) Ordinance 2001 which allows a Hong Kong-incorporated listed company to send copies of a summary financial report, instead of full financial documents, to its securities holders. This is subject to certain conditions being satisfied, including a notice having been received by the company from the intended recipient of the summary report, signifying his agreement to receiving the same. The regulation sets out the required form and content of such a report, as well as the timing for their despatch.
Various rules currently apply to the disclosure of price-sensitive information by listed companies. In January 2001 the Stock Exchange issued a Guide on Disclosure of Price Sensitive Information which sets out some of the Exchange’s interpretation of the relevant rules, including the factors to be considered when determining the "price-sensitivity" of information.
Shorter Notice for De-Listings
The MB and GEM listing rules set out procedures for de-listing a company with a primary listing in Hong Kong and an alternative listing elsewhere. Among other things, a three-month notice period is required for plans for such company to withdraw its listing voluntarily.
In January 2002, the Stock Exchange amended the rules to shorten the notice period to five clear business days for issuers who are transferring their listingfrom one board of the Stock Exchange to the other, subject to certain conditions.
The RBI, on March 31, 2016, has notified the Foreign Exchange Management (Establishment of a Branch office or a liaison office or a Project office or any other place of business) Regulations, 2016 in India...
The committee set up to draft a Code on Resolution of Financial Firms, by the Ministry of Finance, Government of India, on September 28, 2016, released a draft bill – The Financial Resolution and Deposit Insurance Bill, 2016...
The distressed assets situation in India has gradually worsened over the past few years. The stressed loans issue in banks has resulted from a combination of factors including :-
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