An issuing company making an issue of IDR shall also satisfy the following:

(a) the issuing company is listed in its home country;
(b) the issuing company is not prohibited to issue securities by any regulatory body;
(c) the issuing company has track record of compliance with securities market regulations in its home country.

Explanation: For the purpose of this regulation, the term “home country” means the country where the issuing company is incorporated and listed.