In normal circumstances the Exchange will rely on the listing confirmation in Appendix 4B. However, the Exchange may refuse or delay an admission at any point prior to listing, notwithstanding that it receives a listing confirmation and notwithstanding that the offer document has been registered by the Exchange, if:

(1) in the Exchange's opinion:
(a) the reputation of the Exchange or the integrity of the market may be adversely affected;
(b) doubt exists, or apparently sustainable allegations are made, as to the integrity of a director, executive officer or controlling shareholder of the listing applicant;
(c) doubt exists as to the accuracy or completeness of the information in the offer document. While the Exchange does not review these documents, it may undertake sample perusal or receive information from third persons;
(d) any submission or lodgement that is required under the Rules is inaccurate or incomplete;
(e) the Rules are not complied with;
(f) it is in the interests of the public to refuse or delay the admission; or
(2) the Authority advises the Exchange to refuse or delay the admission.

Amended on 31 January 200831 January 2008.