LR 2.1 Preliminary

Under the Act, the FCA may not grant an application for admission unless it is satisfied that:

1. (1)

   the requirements of the listing rules are complied with; and

2. (2)

   any special requirement (see LR 2.1.4 R) is complied with.

Under the Act, the FCA may also refuse an application for admission if it considers that:

1. (1)

   admission of the securities would be detrimental to investors' interests; or

2. (2)

   for securities already listed in a third country3, the issuer has failed to comply with any obligations under that listing.

2The FCA is not able to make the admission of securities conditional on any event. The FCA may, in particular cases, seek confirmation from an issuer before the admission of securities that the admission does not purport to be conditional on any matter.