MKT 6.2.13 Appointment of Stabilisation Manager and Stabilisation Agents

(1) An Issuer/Reporting Entity who intends to carry out Price Stabilisation of its Relevant Securities/ must:
(a) appoint in writing a Stabilisation Manager;
(b) notify the FSRA of the appointment, including the name and business address of the Stabilisation Manager, the date of commencement of the appointment and an address for service in the ADGM of the Stabilisation Manager; and
(c) prior to the appointment of the Stabilisation Manager, take reasonable steps to ensure that the Stabilisation Manager has the required skills, resources and experience to conduct the functions of a Stabilisation Manager.

(2) An Issuer/Reporting Entity must notify the FSRA immediately if the appointment of the Stabilisation Manager is to be terminated, or on the resignation of its Stabilisation Manager, giving the reasons for the cessation of the appointment.

(3) An Issuer/Reporting Entity must appoint a Stabilisation Manager to fill any vacancy in relation to the occurrence of an event specified in (2) and ensure that the replacement Stabilisation Manager can serve as such at the time the vacancy arises or as soon as reasonably practicable.

(4) Where a Stabilisation Manager appointed by an Issuer/Reporting Entity is not suitable in the opinion of the FSRA, or where a Stabilisation Manager has not been appointed, the FSRA may direct the Issuer/Reporting Entity to replace or appoint a Stabilisation Manager in accordance with the requirements in MKT 6.2.