CONFIDENTIAL
FM FCO
TO IMMEDIATE HONG KONG
TELNO 392
OF 03180OZ MARCH 92
CONFIDENTIAL
Müß 040/1
нив
A
110
135435 MDHOAN 0777
FOR RICKETTS (HKD) VISITING
JARDINES
1.
LAST WEEK, LORD CAITHNESS ASKED, WITH REFERENCE TO HONG KONG TELNO 525, IF THE LONDON STOCK EXCHANGE (LSE) HAD SIMILAR REQUIREMENTS TO THOSE LISTED IN PARAGRAPH 2 (A) (1) AND (D) OF THAT TELEGRAM. THE LSE HAVE PROVIDED THE FOLLOWING
INFORMATION.
2. ON THE FIRST POINT, THE LSE WILL ONLY PERMIT AN OVERSEAS REGISTERED COMPANY TO TAKE A SECONDARY LISTING IN LONDON, IF IN THE VIEW OF THE LSE, THE PROPOSED PLACE OF PRIMARY LISTING HAS SUFFICIENT REGULATION, ESPECIALLY WITH REGARD TO COMPANY LAW MATTERS.
3.
AS REGARDS AN MOU OR LEAD REGULATION ARRANGEMENT WITH THE PRIMARY EXCHANGE, THE LSE HAS NO RULE WHICH REQUIRES AN AGREEMENT OR ARRANGEMENT IN THESE CIRCUMSTANCES. LSE COMMENT THAT THERE IS IN PRACTICE VERY LITTLE DIRECT CONTACT BETWEEN STOCK EXCHANGES EXCEPT WHEN A PARTICULAR PROBLEM ARISES. INTERESTINGLY, THERE IS SOME THOUGHT CURRENTLY BEING GIVEN AT LSE TO THE POSSIBLE INTRODUCTION OF MORE FORMAL ARRANGEMENTS FOR CONTACT BETWEEN EXCHANGES IN THE CASE OF SECONDARY LISTINGS, BUT AS YET NO DECISIONS HAVE BEEN TAKEN AND THE POLICY REMAINS UNCHANGED.
HURD
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CONFIDENTIAL