NEW ZEALAND: NZX Announces Amendments to the Listing Rules

Thursday April 25 2024

On 24^th April 2024, New Zealand Exchange (NZX) has issued an announcement on Listing Rule amendments to introduce authorised representative requirements and clarify climate-related disclosure obligations.

These Rule amendments will be implemented in two phases, with the amendments relating to climate-related disclosure obligations becoming effective on 24 May 2024, and the amendments introducing the Authorised Representative obligations becoming effective on 24 July 2024.

Authorised Representatives requirements

• Existing Issuers – NZX is amending the Rules (including Rule 1.7.2 and 1.22) to introduce requirements for existing Issuers in relation to Authorised Representatives.
• Prospective Issuers – NZX also gives notice of amendments to Rules 1.12 and 1.13. These amendments introduce requirements for applicants who are seeking to list to appoint Primary and Secondary Authorised Representatives, and to ensure that their Primary Authorised Representative has successfully completed the Authorised Representative Training prior to listing.

Climate-related disclosure obligations: NZX is amending Rule 3.7 to clarify the climate-related disclosure reporting obligations for Issuers in their annual reports. The amendment clarifies that Issuers may either include a copy of their climate statements in their annual report or provide a website address or URL link to where the statements can be accessed, in accordance with the requirements of the Financial Markets Conduct Act 2013.

Click on the above link for further information