The Stock Exchange of Hong Kong Limited has recently announced various amendments to the Main Board Listing Rules to implement the proposals following the conclusion of their recent consultations on (i) the listing regime for overseas issuers and (ii) review of the Corporate Governance Code. The amendments will come into effect on 1 January 2022, other than in relation to long-serving INEDs, which will come into effect one year later on 1 January 2023.
Whilst the majority of the amendments can be implemented without Bermuda, Cayman or British Virgin Islands companies needing to amend their bye-laws or articles of association, the following amendments will likely require listed companies to make appropriate amendments:
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Amendments to the Main Board Listing Rules: Impact on Bermuda, Cayman and British Virgin Islands’ Listed Issuers