Full text: The work of the Stock Exchange

567 
portion of a certificate of deposit may be typed satisfactorily to the 
Committee. 
APPENDIX 
Temporary Certificates or Receipts 
Temporary certificates or receipts must conform to the General Require- 
ments above outlined and to the Specific Requirements as to stock certifi 
cates, except that the text may be typed satisfactorily to the Committee, 
and need not bear a vignette. 
REMOVALS OR SUSPENSIONS IN DEALINGS OF LISTED SECURITIES 
Whenever it shall appear that the outstanding amount of any security 
listed upon the Stock Exchange has become so reduced as to make inadvis- 
able further dealings therein, the Committee may direct that such security 
be removed from the list and further dealings therein prohibited. 
“The Governing Committee may suspend dealings in the securities of 
any corporation previously admitted to quotation upon the Exchange, or it 
may summarily remove any securities from the list.” 
Special Requirements for Listing Foreign Shares 
Subject to its right to waive or amend these requirements, the Com- 
mittee on Stock List has adopted the following requirements for listing 
foreign shares: 
1. To be available for listing, foreign shares must be in the form of 
certificates issued by an approved American institution or by the American 
branch of an approved foreign institution based upon the deposit with a 
foreign correspondent of the original foreign shares. 
2. Applications must be signed by the company and endorsed by Bank- 
ers to the Issue satisfactory to the Committee on Stock List or must be 
made on behalf of and signed by Bankers to the Issue satisfactory to the 
Committee on Stock List. 
3. Conditions of issuance of Certificates of Deposit must be such that 
shares deposited abroad may be released upon cable advice upon the can- 
cellation of such Certificates of Deposit and that additional Certificates of 
Deposit may be issued in New York upon cable advice from the foreign 
depositary of the deposit of additional shares. The Committee may approve 
restrictions upon such interchangeability for a reasonable period. 
4. Until further action Certificates of Deposit should be in registered 
form only. The precise form will be considered at the time of application 
without, until further notice, prescribed rules in relation thereto, excepting 
that such certificates should comply with requirements of New York State 
law as to negotiability. The agreement covering such Certificates of Deposit 
must provide that no original foreign shares against which there are any 
outstanding “oppositions” shall be accepted for deposit and must also pro- 
vide for the publication to American certificate holders of a summary, in 
the English language, of the current annual reports of the company. 
I Application should name the Exchanges upon which the security is 
listed and whether it is dealt in for the term settlement or for the cash 
settlement only. 
6. The application must state affirmatively that there are no govern- 
mental restrictions against the payment of interest or dividends to American
	        
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