Ok so I wasn't thinking clearly here, the 3.1 doesnt refer to the query letter that AVZ responded to, where at 3.1 it states may 14 letter.
It's talking about ASX listing rule 17.3.1 as follows:
Suspension not at entity’s request
General rule
17.3 ASX may at any time suspend an entity’s + securities, or a + class of them, from + quotation if in
ASX’s opinion any of the following applies.
17.3.1 The entity is unable or unwilling to comply with, or breaks, a listing rule.
In the response letter when asked if AVZ considers information regarding the Jan 28th 2023 Ministerial decrees (response 1.7), to be something that would have an effect on the share price, AVZ state "Potentially yes..." And go on to say they don't yet know.
So...
It looks to me, like because of listing rule 17.3.1, the ASX must take on the suspension themselves, because AVZ are unable to comply with a listing rule, because they don't yet know the true intentions of the DRC in regards to those decrees, and can not make a disclosure yet.
And so...
the ASX states that the securites are likely to
remain suspended until AVZ know what it's all about.
So my take on all this is that it's all ok and nothing really changes as a result of this. ASX seem satisfied to continue the suspension, which is now just under a new rule, and they have said the ball is in AVZ's court in regards to coming out of suspension.
So (and I fucking hope so) I think nothing has really changed, just sounds scary.
Peace