Listing requirement: public-offer issuers must obtain exchange permission and safeguard application monies under prescribed conditions. Companies making a public offer must obtain prior permission from recognised stock exchange(s) and name such exchange(s) in the prospectus; application monies must be kept in a separate scheduled bank account and used only for adjustment against allotment where listing permission exists or for repayment where allotment cannot be made within regulatorially specified time; waiver clauses purporting to circumvent these requirements are void; noncompliance attracts statutory penalties and companies may pay commission subject to prescribed conditions.