Table of Contents
TSX Venture Exchange Rule Book
Rule A.1.00 Interpretation
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 Rule B.1.00 Power to List and Delist |
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Rule B.1.01
(1) Listing on the Exchange is a privilege, not a right. The decision as to whether an issuer shall have any of its securities listed on the Exchange is in the sole discretion of the Exchange. The Exchange may accept or refuse any application or may impose whatever conditions and restrictions on any Exchange Approval granted as the Exchange, in its sole discretion, considers necessary and advisable in the circumstances.
(2) The Exchange shall examine all applications for listing and may list for trading such securities and on such tier, as the Exchange, in its sole discretion, may determine appropriate. Applications for listing shall be made in the form and accompanied by such documentation and supporting materials as are prescribed by the Exchange from time to time.
(3) The fee for the listing of any securities shall be such sum or sums as are prescribed by the Exchange from time to time.
(4) The Exchange shall have the power and discretion at any time to:
(a) suspend trading or delist securities from the Exchange or to revoke a suspension imposed on any security listed on the Exchange; and
(b) impose any conditions or restrictions on any decision made by the Exchange pursuant to section 4(a) above, as deemed necessary and advisable by the Exchange;
where the Exchange, in its discretion, is satisfied that:
(c) there has been a failure to comply with any of the terms and conditions of listing, including the terms of the Listing Agreement;
(d) there has been a failure to comply with or the contravention of any Exchange Requirement;
(e) suspend trading or delist securities from the Exchange or to revoke a suspension imposed on any security listed on the Exchange; and
(f) trading in the issuer's securities has been halted or suspended for a period as specified in the Exchange Requirements; or
(g) such action is necessary in the public interest.
(5) The Exchange shall have the power and discretion at any time to:
(a) decline the granting of Exchange Approval of any application by any issuer;
(b) revoke, amend or impose conditions on any Exchange Approval previously granted;
(c) designate or redesignate the tier upon which an issuer's securities shall trade and designate any issuer Inactive (as defined in Corporate Finance Policy 1.1) or revoke any Inactive designation;
(d) decline the acceptance of notice of any director, officer, insider, promoter, auditor, lawyer, employee, consultant or other agent relied on by an issuer, to the extent the holding of such position requires acceptance of notice by the Exchange; and
(e) revoke, amend or impose conditions on any previous acceptance of notice granted to any issuer, director, officer, insider, promoter, auditor, lawyer, employee, consultant or other agents relied on by an issuer to the extent such position requires acceptance of notice by the Exchange.
(6) Where the Exchange has made a decision that:
(a) an application by an issuer for a listing of securities on the Exchange is declined;
(b) any class of securities of a listed issuer shall be suspended or delisted;
(c) the tier upon which an issuer's securities shall trade shall be redesignated or that an issuer shall be designated Inactive (as defined in Corporate Finance Policy 1.1);
(d) an application by a listed issuer for acceptance of a Reverse Take-Over or a Qualifying Transaction (as such terms are defined in Corporate Finance Policy 1.1) is declined;
(e) one or more of the directors, officers, insiders, promoters, lawyers, employees, consultants or other agents relied on by the issuer are not acceptable to the Exchange or that continued acceptability is subject to conditions; or
(f) in respect of securities subject to an Exchange administered escrow agreement, acceptance of any application for cancellation, discretionary transfer or release of securities or consent to any amendment to the terms of any such escrow agreement is declined,
then the issuer or the person found not to be acceptable to the Exchange or whose acceptability is subject to conditions, may apply for a review pursuant to Rule E.2.00[C].
(7) An application for a review of an Exchange decision must be made in writing to the Hearing Officer (as defined in Rule E.2.04[A]) of the Exchange within 30 days from the date the decision was delivered to the applicant.
Amended January 17, 2001
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