LR 12.1 Application
Application
1This chapter applies to a company that has a primary listing of equity securities or preference shares
This chapter contains rules applicable to a listed company that:
-
(1)
purchases its own equity shares; or
-
(2)
purchases its own securities other than equity shares; or
-
(3)
sells or transfers treasury shares; or
-
(4)
purchases or redeems its own securities during a prohibited period; or
-
(5)
purchases its own securities from a related party.
Exceptions
LR 12.2 to LR 12.5 do not apply to a transaction entered into:
-
(1)
in the ordinary course of business by a securities dealing business; or
-
(2)
on behalf of third parties either by the company or any member of its group;
if the listed company has established and maintains effective Chinese walls between those responsible for any decision relating to the transaction and those in possession of inside information relating to the listed company.