Submission in response to ASX’s public consultation on proposed enhancements to the ASX Listing Rules: continually improving the reputation and integrity of the ASX market
The Corporations Committee of the Business Law Section of the Law Council of Australia (the Committee) welcomes the opportunity to provide feedback on the public consultation paper dated 5 April 2022 on proposed enhancements to the ASX Limited’s (ASX) Listing Rules: continually improving the reputation and integrity of the ASX market (Consultation Paper).
As a general comment, the Business Law Section does not support all of the proposed changes.
The Committee has concerns with certain proposed changes related to security issuances and their potential to impact the market for secondary capital raisings in Australia negatively. That market has for many years been the envy of other jurisdictions and very recently helped many ASX-listed entities navigate their way through the difficult and uncertain environment raised by the COVID-19 pandemic.