Listing eligibility for stock exchanges requires governance compliance, three years trading and board approval; associates and clearing corporation securities barred. A recognised stock exchange may apply to list its securities on another recognised exchange only if it complies with ownership and governance provisions, has completed three years of continuous trading immediately prior to application, and has obtained Board approval (subject to Board-imposed conditions); a recognised stock exchange may not list securities of its associates, and securities of a recognised clearing corporation may not be listed on any stock exchange.