Library Major Changes from Proposals contained in Consultation Paper dated May 1998
Major Changes from Proposals contained in Consultation Paper dated May 1998
  GEM Listing Rules Consultation Paper Reason
Minimum transaction size No restriction Min. HK$250,000 Liquidity concern
Trading System Automatic order matching, same as Main Board Bulletin Board In tune with the removal of the min. transaction size
Jurisdictions of incorporation HK, PRC, Bermuda & Cayman Islands All jurisdictions Too risky to accept all jurisdictions
Winding up provisions No specific provision Compulsory winding up under certain conditions Practical difficulties
Exchange's vetting role at the time of listing Pre-vetting to check compliance with Companies Ordinance and GEM Listing Rules Pre-vetting to check compliance with Companies Ordinance and post-vetting to check compliance with GEM Listing Rules Follow existing Main Board practice
Exchange's vetting role on companies' announcements and circulars Pre-vetting to check compliance with GEM Listing Rules Post-vetting to check compliance with GEM Listing Rules Follow existing Main Board practice