Entire Section

  • Advances to an entity (17.15-17.17A)

    • 17.15

      Where the relevant advance to an entity from the issuer or any of its subsidiaries exceeds 8% under the assets ratio defined under rule 19.07(1), the issuer must announce the information in rule 17.17 immediately thereafter. For the avoidance of doubt, an advance to a subsidiary of the issuer, or between subsidiaries of the issuer, will not be regarded as a relevant advance to an entity.

    • 17.16

      Where the relevant advance to an entity increases from that previously disclosed (whether under rule 17.15, 17.16 or 17.22) and the amount of the increase since the previous disclosure is 3% or more under the assets ratio defined under rule 19.07(1), the issuer must announce the information in rule 17.17 immediately thereafter.

    • 17.17

      Under rule 17.15 or 17.16, an issuer must announce the following information:—

      (1) details of the relevant advance to an entity including details of the balances;
      (2) the nature of events or transactions giving rise to the amounts;
      (3) the identity of the debtor group;
      (4) interest rate; and
      (5) repayment terms and collateral.

    • 17.17A

      For the purpose of rules 17.15 and 17.16, any trade receivable is not regarded as a relevant advance to an entity if:

      (1) it arose in the issuer's ordinary and usual course of business (other than as a result of the provision of financial assistance); and
      (2) the transaction from which the trade receivable arose was on normal commercial terms.