On the 17 December 2010, the Irish Stock Exchange ("the ISE") published the new Listing Rules ("the Rules") which require Irish listed companies to comply or explain against additional corporate governance provisions which arise from the recommendations contained in the report on Compliance with the Combined Code on Corporate Governance by Irish listed companies ("the ISE/IAIM Commissioned Report"). These Rules, contained in a new Irish Corporate Governance Annex, supplement the existing provisions which require Irish listed companies to comply or explain against the requirements of the UK Corporate Governance Code.
The new Rules are effective immediately, therefore Irish listed companies with accounting periods commencing on or after the 18 December 2010, will be required to comply or explain against the Irish specific corporate governance provisions.
The requirement to comply with the UK Corporate Code is already in place, having applied to Irish listed companies with accounting periods beginning on or after 30 September 2010.
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