Recent Changes to the Corporate Governance Code and Associated Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Practical Implications on Listed Issuers

The Stock Exchange of Hong Kong Limited ("HKEx") published the Consultation Conclusions on Review of the Corporate Governance Code and Associated Rules Governing the Listing of Securities (the "Listing Rules") on 28 October 2011. It includes amendments to (1) the associated Listing Rules; (2) the code provisions (the "Code Provisions"); (3) the recommended best practices ("RBP"); and (4) the existing Appendix 23 (which is to be incorporated into the new Corporate Governance Code) to include additional mandatory disclosure requirements in the corporate governance report. We set out below a summary table of the proposed amendments, the various implementation dates and the practical recommendations to all listed issuers under the new regime.

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