Liquidation
The process of terminating a company by realising its assets, paying off creditors and holders of loan capital and distributing the remaining assets among shareholders, according to the order of priority.
Listing Rules
Investment companies which are listed on the main market of the London Stock Exchange must comply with the Listing Rules. The Listing Rules is the rulebook produced by the Financial Services Authority (FSA) for all companies listed on this market. Most investment companies fall under the rules for closed-ended investment entities which are contained in Chapter 15. The Listing Rules sit within the FSA’s Handbook alongside the Disclosure and Transparency Rules, which cover the disclosure of information to the market, and the Prospectus Rules, which are relevant when an investment company produces a prospectus, for example on launch.
Investment companies which are listed on the Alternative Investment Market must comply with the AIM Rules. Companies which are listed on other exchanges must comply with the rules of that exchange. The rules of different exchanges vary wdiely.
