17A. Application for an endorsement

(1) An application for an endorsement on a Licence authorising an Authorised Market Institution to maintain an Official List of Securities may be made to the DFSA by:
(a) the Authorised Market Institution; or
(b) an applicant for a Licence to operate as an Authorised Market Institution.
(2) The DFSA may, in its absolute discretion, grant or refuse to grant an application for an endorsement.
(3) When granting or refusing to grant an endorsement the DFSA shall consider whether an Authorised Market Institution has listing rules that meet the requirements in Article 22 and whether it complies with any other relevant requirement imposed by Law or Rules.
(4) Upon refusing to grant an endorsement, the DFSA shall, without undue delay, inform the applicant in writing of such refusal and, if requested by the applicant, the reasons for such refusal.