NZX Listing Rule Amendments: Authorised Representatives

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

24 April 2024

NZX Listing Rule Amendments: Authorised Representatives and Climate-Related
Reporting

Last year, NZX consulted on changes to the NZX Listing Rules (Rules) to:
• introduce requirements for Issuers to appoint Authorised Representatives; and
• clarify Issuers’ climate-related disclosure reporting obligations in relation to annual reports.
NZX has now obtained all necessary regulatory approvals and wishes to notify the market of
amendments to the Rules, to effect these changes.

The amendments to the climate-related reporting obligations will come into effect on 24 May
2024. The amendments to introduce the Authorised Representative requirements will come into
effect on 24 July 2024.

Climate-related disclosure obligations

NZX gives notice of amendments to the Rules to clarify the disclosure reporting obligations of
Issuers in relation to their annual reports. The amendment clarifies that Issuers may either include
a copy of their climate statements in their annual report, or provide a website address or URL link
to where the statements can be accessed. In addition, NZX gives notice of consequential
amendments to the NZX ESG Guidance Note to reflect this amendment.

Implementation
The amendment to Rule 3.7.1(b) to clarify the climate-related disclosure obligations for an
Issuer’s annual report, as well as the amendment to the ESG Guidance Note will come into effect
on Friday, 24 May 2024.

Authorised Representatives requirements

Existing Issuers
NZX also gives notice of amendments to the Rules to introduce requirements for existing Issuers
in relation to Authorised Representatives, which will become effective on 24 July 2024. These
amendments include that:
• Issuers must appoint a Primary Authorised Representative and a Secondary Authorised
Representative, and provide NZX with their contact details through the prescribed form;
and
• Issuers must ensure that their Primary Authorised Representative successfully completes
the Authorised Representative Training within 6 months of the effective date of the Rule
amendments (being 24 January 2025).
Prospective Issuers
NZX also gives notice of amendments to the Rules to introduce requirements for applicants who
are seeking to list, to appoint a Primary Authorised Representative and a Secondary Authorised
Representative, and to confirm to NZX that their Primary Authorised Representative has
successfully completed the Authorised Representative Training prior to listing. These
amendments will also become effective on 24 July 2024.

Implementation
The amendments to the Rules (including Rule 1.12.2, 1.13.2 and Rule 1.22) to introduce the
Authorised Representative requirements will come into effect on Wednesday, 24 July 2024.

Issuers will be able to provide NZX the contact information of both their Primary and Secondary
Authorised Representatives through the prescribed form, which will be made available on MAP at
the link below prior to 24 July 2024:

https://map.nzx.com/static/forms/

Mark-up of Rule Amendments
A mark-up of the amendments to the Rules, is available at the link below:

https://www.nzx.com/regulation/nzx-rules-guidance/upcoming-rules-guidance-changes

Practice Note and supporting information
Further information in relation to the Authorised Representative requirements is set out in a
Practice Note which is available at the link above, along with the prescribed form for Issuers to
notify NZX of their Authorised Representatives.

For further information, please contact:

Kristin Brandon
Head of Policy & Regulatory Affairs
T: 04 495 5054
M: 027 577 6994
E: kristin.brandon@nzx.com