Article 3 Continued effect of listing rulesI1
United Kingdom
In this Order, “old listing rules” means rules which had effect immediately before commencement and which were made (or treated as having been made) by the Authority—
under Part IV of the 1986 Actf1 in accordance with the procedures applicable to the making of such rules; or
insofar as the rules had effect in relation to non-Part IV securities, in pursuance of rights of the Authority in relation to such securities.
Old listing rules have effect after commencement as if they were listing rules made by the Authority in the exercise of the functions of the competent authority under Part VI.
The validity of listing rules which have effect by virtue of paragraph (2) is not affected by any failure of the Authority to satisfy any requirement of the 2000 Act, in relation to the procedure to be followed when proposing or making rules, which did not apply in relation to the making of the old listing rules.
Listing rules have effect by virtue of paragraph (2) subject to any amendments or revocations made by the competent authority under Part VI which (whether made before or after commencement) have effect after commencement.
Where any provision of listing rules (“the new provision”) provides that a person is required to pay any fee or take any other step which he was required to pay or take under any provision of old listing rules (“the old provision”), he is to be treated as having complied with the new provision to the same extent as he had complied with the old provision.