By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday said it has deferred the effective date of a portion of the amendment to its listings rules.

“Notice is hereby given that, the effective date of Article 23 of the ‘Amendments to the Listings Rules of the Exchange’, titled ‘Request for suspension at the instance of the issuer has been deferred, Article 23 will not become effective on 1 November 2014 as previously announced,’’ the NSE said.

The notice signed by Tinuade Awe, head, legal and regulation division at the Nigerian bourse said the NSE will announce the effective date of Article 23 on a later date.

The amendment covers request for suspension at the instance of the Issuer

‘’Any request for suspension must be made to The Exchange in writing by the Issuer or the Issuer’s authorized representative or financial adviser and must be supported by the specific reasons which the issuer wishes The Exchange to take into account in The Exchange’s determination of whether or not trading in the issuer’s securities should be suspended,’’.

Also, amendment covers that the burden is on any Issuer that requests a suspension of trading in its securities to satisfy the NSE that a suspension would be necessary.