Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

LR 16.2 Requirements and eligibility for listing

LR 16.2.1 R RP

To be listed, an applicant must comply with:

  1. (1)

    LR 2 (Requirements for listing); and

  2. (2)

    only LR 6.8.1R to LR 6.8.2R3 of LR 6 (Additional requirements for premium 1listing commercial company).1

    2

LR 16.3 Listing applications

LR 16.3.1 G RP

An applicant for admission is required to comply with LR 3 (Listing applications).

LR 16.3.2 G RP

The FCA will admit to listing such number of securities as the applicant may request for the purpose of future issues. At the time of issue the securities will be designated to the relevant class.

Sponsors

LR 16.3.3 G RP

An applicant that is seeking admission of its equity shares 2must retain a sponsor in accordance with LR 8 (Sponsors).

LR 16.3.4 R RP

An3applicant must appoint a sponsor when it makes an application for admission of equity shares2which requires the production of listing particulars.

3
LR 16.3.5 G

[deleted]1

1

Multi-class fund or umbrella fund

LR 16.3.6 R RP

An applicant which is a multi-class or umbrella fund which seeks to create a new class of security without increasing its share capital for which listing has previously been granted, must provide the FCA with the details of the new class and no further application for listing is required.

LR 16.4 Requirements with continuing application

LR 16.4.1 R RP

An open-ended investment company must comply with:

  1. (1)

    LR 9 (Continuing obligations) except LR 9.2.2AR to LR 9.2.2GR, 6LR 9.2.6BR, LR 9.2.6CR, LR 9.2.6DR, 7LR 9.2.15R, LR 9.2.20R5, LR 9.2.21R, LR 9.2.23R, LR 9.2.24R, LR 9.2.25R, 6LR 9.3.11R and LR 9.8.4 R (14)6;4

    46
  2. (2)

    LR 15.5.1 R;

    2
  3. (3)

    LR 15.6.1 R; and2

  4. (4)

    the condition set out in LR 16.1.1 R (1) or (2).2

LR 16.4.2 R RP

LR 15.6.6 R applies to an open-ended investment company if it has no executive directors.

LR 16.4.3 R RP

The interests of a single person or entity which exceeds 10% of the issued shares (calculated exclusive of treasury shares) of any class of share in the capital of the open-ended investment company must, so far as they are known to it, be notified to a RIS as soon as possible following the open-ended investment company becoming aware of those interests.

LR 16.4.4 R RP

LR 10 (Significant transactions) and LR 12 (Dealing in own securities and treasury shares) do not apply to an open-ended investment company.

Cancellation of premium listing

LR 16.4.5 R RP

An open-ended investment company must comply with LR 5.2.7A R3

Election of independent directors6

LR 16.4.7 R RP

6A open-ended investment company is not required to comply with LR 13.8.17 R.