How does a listed issuer ensure compliance with paragraph 2.21A of the Main LR in relation to the appointment of its share registrar?
The requirements under paragraph 2.21A of the Main LR set out the general criteria and factors to be taken into account by a listed issuer when appointing and retaining a share registrar. The main objectives of the requirements are to facilitate the appointment and retainment of suitable share registrars who are able to ensure the proper performance of the listed issuer's obligations under the Main LR and provide better quality services in a professional manner.
Hence, a listed issuer in appointing a share registrar, must be satisfied that the share registrar is able to provide the services that meet with its needs and expectations in line with the objectives of the requirements. For this purpose, the listed issuer may, amongst others:
make reasonable due enquiries to ensure and satisfy itself that the share registrar complies with paragraph 2.21A of the Main LR prior to the appointment of the share registrar; and
reflect the relevant provisions in paragraph 2.21A of the Main LR in the terms of engagement or service agreements entered into between the listed issuer and the share registrar, where appropriate.