Entire Section

  • Chapter 1 — Chapter 1 — Continuous Disclosure

    • 22. Data Base

      (1) The DFSA shall establish and maintain an electronic data gathering, analysis and retrieval system (the "data base") for the receipt and storage of information filed or disclosed under this Part and any rules made under this Part. The data base is for the purpose of making information available to the public except where such information is confidential as prescribed in the rules.
      (2) The DFSA may delegate to any person all or part of any function in Article 22(1).

    • 23. Publication and reporting of continuous disclosures

      (1) A Reporting Entity shall make disclosures to the market in the circumstances prescribed by the Offered Securities Rules.
      (2) Without limiting the generality of Article 23(1), the Offered Securities Rules shall prescribe the circumstances in which the following types of information shall be disclosed:
      (a) financial information;
      (b) any material information which may have an effect on the market price or value of the Securities; and
      (c) any material change which occurs in relation to a Reporting Entity.
      (3) Where the Offered Securities Rules require a Reporting Entity to publish information, the Offered Securities Rules may permit the DFSA to publish that information in the event that the Reporting Entity fails to do so.
      (4) Where information must be disclosed pursuant to Article 23(1), the Reporting Entity shall immediately:
      (a) issue a release of information to the market disclosing the information in the manner prescribed by the Offered Securities Rules; and
      (b) file a report with the DFSA in accordance with the Offered Securities Rules.

    • 24. Disclosure exceptions

      (1) Where in the reasonable opinion of a Reporting Entity the disclosure required by the Offered Securities Rules made pursuant to Article 23 would:
      (a) be unduly detrimental to the interests of the Reporting Entity; or
      (b) disclose commercially sensitive material,
      the Reporting Entity need not make the disclosure but shall immediately file with the DFSA a confidential report together with written reasons for non-disclosure.
      (2) The DFSA may direct disclosure of the information on such terms as it thinks fit.
      (3) Where a confidential report is filed with the DFSA under Article 24(1), the Reporting Entity need not comply with the requirement of Article 23 unless or until one of the following occurs:
      (a) the DFSA directs the Reporting Entity to comply with Article 23;
      (b) there is a material change of circumstances such that the reason for the confidential report is no longer valid;
      (c) the Reporting Entity becomes aware, or there are reasonable grounds to suspect, that persons with knowledge of the material change have made use of that knowledge in dealing in Securities;
      (d) 5 business days have expired after the filing of the report and an extension has not been provided by the DFSA; or
      (e) the Reporting Entity acts in accordance with any direction of the DFSA.