The ACT was one of the many respondents to your previous consultation CP203 who were in favour of introducing a requirement for shareholder approval prior to a company delisting. We therefore very much welcome and support your approach and your desire to bring in the changes without delay.
A delisting makes a fundamental change to the nature of the investment that a shareholder owns, its tradability, its value and the cost of trading, and possibly to level of information being regularly provided. It is not dissimilar to the major change that occurs with a Class 1 transaction where shareholder consent is required, so logically shareholder consent should be required for a delisting.