Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2007-03-06

LR 5.4 Restoring listing

Revoking a cancellation of listing

LR 5.4.1GRP

If an issuer has the listing of its securities cancelled, it may only have them readmitted to the official list by re-applying for their listing.

Restoring a listing that is suspended

LR 5.4.2RRP

The FSA may restore the listing of any securities that have been suspended if it considers that the smooth operation of the market is no longer jeopardised or if the suspension is no longer required to protect investors. The FSA may restore the listing even though the issuer does not request it.

Requests to restore

LR 5.4.3GRP
  1. (1)

    An issuer that has the listing of any of its securities suspended may request the FSA to have them restored.

  2. (2)

    The request should be made sufficiently in advance of the time and date the issuer wishes the securities to be restored.

  3. (3)

    Requests received for when the market opens should allow sufficient time for the FSA to deal with the request.

  4. (4)

    The request may be an oral request. The FSA may require documentary evidence that the events that lead to the suspension are no longer current (for example, financial reports have been published or an appropriate announcement has been made) to process the request.

  5. (5)

    Even if restoration is required urgently, it will normally take up to 30 minutes to be effected.

  6. (6)

    The FSA will issue a dealing notice on a RIS announcing the restoration.

Refusal of request to restore

LR 5.4.4RRP

The FSA will refuse a request to restore the listing of securities if it is not satisfied of the matters set out in LR 5.4.2 R.

Withdrawal of a request to restore securities

LR 5.4.5GRP
  1. (1)

    If an issuer has requested the FSA to restore the listing of any securities, it may withdraw its request at any time while the securities are still suspended. The withdrawal request should initially be made by telephone and then confirmed in writing as soon as possible.

  2. (2)

    Even if a request to restore has been withdrawn, the FSA may restore the listing of securities if it believes the circumstances justify it.

Restoring listing of securitised derivatives

LR 5.4.6GRP
  1. (1)

    If an underlying instrument is restored, the securitised derivative's listing will normally be restored.

  2. (2)

    For a securitised derivative relating to a basket of underlying instruments that has been suspended, the securitised derivative's listing may be restored by the FSA, irrespective of whether or not the underlying instrument has been restored, if:

    1. (a)

      the issuer of the securitised derivative confirms to the FSA that despite the relevant underlying instrument(s) suspension a market in the securitised derivative will continue to be made; and

    2. (b)

      the FSA is satisfied that restoring the securitised derivative is not inconsistent with either the protection of investors or the smooth operation of the market.