GENERAL: NZXR: Notice of Amendment to NZMDT Rules

17 Aug 2010 5:00 pm

NZXR 17/08/2010 GENERAL

REL: 1700 HRS NZX Regulation

GENERAL: NZXR: Notice of Amendment to NZMDT Rules

17 August 2010

NZX Market Supervision gives notice of an amendment to the NZ Markets Disciplinary Tribunal Rules ("NZMDT Rules").

This amendment relates to NZMDT Rule 8.4.1, and inserts the words "and/or the Depository Operating Rules", so that the amended NZMDT Rule shall read as follows:

8.4. Determination of Summary Appeal 8.4.1 The Tribunal may affirm, vary or set aside the determination at Summary Hearing and any penalty imposed where it considers that that determination is a misrepresentation or an erroneous application of the relevant NZX Markets Rules, the Clearing and Settlement Rules and/or the Depository Operating Rules, as the context requires. A party shall have no right of appeal from a determination made by the Tribunal in a Summary Appeal. This amendment relates to the introduction of NZX's new clearing and settlement system ("Settlement System") and will come into effect on the later of:

1. 14 September 2010; and 2. the date NZX notifies to the market on which the Settlement System will become operative (the "Go-Live Date").

As the Go-Live Date is dependant on the receipt of necessary regulatory approvals, NZX will advise the market of the Go-Live Date.

Further background information regarding the amendment and the new Settlement System can be found in the document entitled Consultation Memorandum - NZ Markets Disciplinary Tribunal Rules - August 2009, which is available at http://www.nzx.com/market-supervision/rules-consultation/.

ENDS. End CA:00198464 For:NZXR Type:GENERAL Time:2010-08-17:17:00:25

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