The rules on restricted securities are set out in Chapter 9 of the Listing Rules, with Listing Rule 15.12 describing what is to be included in a company`s articles of association. Whether securities are treated as limited securities and therefore a trust period is required is determined on a case-by-case basis by ASX.3 ASX adopts a two-stage fiduciary approach, in which only significant holders (such as close companies, project promoters, principal holders and service providers) are required to sign a formal trust agreement. . . .