Section 18

Where an amendment is made, whether by way of rescission, alteration or addition, to the rules of a securities exchange or the listing rules of a securities exchange, the committee of the securities exchange shall forward a written notice thereof to the Authority for approval.

The Authority may give notice in writing to the securities exchange concerned that it approves the amendment or that it disapproves the whole or any specified part of the amendment in question and until such notice is given the amendment shall not have force and effect.

Nothing in this section shall preclude the Authority, after consultation with the Securities Industry Council and a committee of a securities exchange, from amending the rules or the listing rules of an approved securities exchange by written notice specifying the amendments and the dates those amendments shall have force and effect but the Authority may dispense with such consultation if it considers it necessary to do so for the protection of investors.

Any notice under this section may be served personally or by post.