||Approval of the relevant authority on the layout plan for the proposed development must be in place prior to the implementation of the corporate proposal;
||The development/joint venture agreement between the acquiree company and the registered/beneficial owner of the subject land which gives rise to the development rights must be irrevocable and must not be to the disadvantage of the acquiree company.
||Salient features of the development/joint venture agreement must be fully disclosed in the related prospectus/circular to shareholders;
||The company (holding the development rights) will be required to submit the following:
- A written confirmation that to date all terms and conditions of the development/joint venture agreement are fully complied with; and
- A written undertaking that the company will fully comply and adhere to the terms and conditions of the development/joint venture agreement so as to avoid any circumstances that may result in the termination of the said agreement;
||Declaration from both joint venture parties on their intention and commitment in respect of the joint venture development must be given; and
||In the event of any breach of the development/joint venture agreement by any of the parties concerned, timely announcement of such breaches and the remedies to be undertaken must be made to KLSE.