62. Prohibition – Admission to trading

A Person may not have Securities or Units in a Listed Fund admitted to trading on an Authorised Investment Exchange unless:

1. (a) such Investments have been admitted to the Official List maintained by the Authorised Investment Exchange; and
2. (b) in relation to Securities, a Prospectus in relation to the relevant Securities containing the information prescribed for this purpose by the AFSA has been approved by the Authorised Investment Exchange; and
3. (c) in relation to Units in Listed Funds other than Overseas Listed Funds:
4. (i) the Fund is a Non-Exempt Fund under the AIFC Collective Investment Scheme Rules; and

(ii) there are Offering Materials in relation to the relevant Units and the Authorised Investment Exchange has satisfied itself that such Offering Materials satisfies the requirements in AIFC Collective Investment Scheme Rules.

Guidance: Units in a Listed Fund

For the avoidance of doubt, a Prospectus is not required in relation to Units in a Listed Fund. The requirements in relation to Offering Materials, which apply to Units in a Listed Fund (other than Overseas Listed Funds), are set out in the CIS. The requirements in relation to Offering Materials for Overseas Listed Funds will be regulated according to the Business Rules.

63. Exemptions

The AFSA may, at its discretion and on its own initiative, identify by Rules:

• (a) Exempt Offerors; and
• (b) Exempt Securities to which the prohibition in section 62 does not apply or applies in a modified manner.