ASX Listing Rule 3.1 (continuous disclosure)

ASX Listing Rule 3.1 is the foundational continuous-disclosure obligation for every ASX-listed entity. It requires that, once an entity becomes aware of information that a reasonable person would expect to have a material effect on the price or value of its securities, it must immediately tell ASX — typically through an announcement lodged via the ASX Online platform.

The rule is read in conjunction with Listing Rule 3.1A, which carves out several narrow exceptions — broadly, situations where disclosure is not required because the information is confidential, ASX has not formed the view that the information has ceased to be confidential, and one of a small set of reasons for non-disclosure applies (e.g., the information is an incomplete proposal, comprises matters of supposition, or would be a breach of law to disclose).

ASX Guidance Note 8 is the practical companion to Listing Rule 3.1. It sets out ASX's expectations on materiality, timeliness, the meaning of 'immediately', and the use of trading halts and voluntary suspensions to manage disclosure under pressure.

Listing Rule 3.1 sits alongside the statutory continuous-disclosure provisions in the Corporations Act 2001 (Cth), particularly section 674. The two regimes are complementary — Listing Rule 3.1 is the contractual obligation to ASX; section 674 is the statutory obligation enforceable by ASIC.