In-principle approval requirement mandates recognised stock exchanges' clearance before issuing listed securities, with venue-specific conditions. A listed entity must obtain in-principle approval from recognised stock exchange(s) before issuing specified securities or non-convertible debt securities, with approval required from all nationwide trading terminal exchanges if listing occurs only there, from all proposed listing exchanges if none are nationwide, and from all nationwide exchanges where listing spans both types of exchanges. The requirement is not applicable to securities issued under a scheme of arrangement where a No-Objection Letter has already been obtained from recognised stock exchange(s) under the scheme regulation.