According to the Corporate Governance Code of the Hong Kong Listing Rules, what is the “comply or explain” principle?

ID : 1869

Long answer : The “comply or explain” principle requires issuers to either comply with the code provisions or provide considered reasons for any deviations. (Source: https://en-rules.hkex.com.hk/sites/default/files/net_file_store/HKEX4476_3828_VER36626.pdf)

Short answer : Issuers must comply with code provisions or explain deviations.

answer 2 : Issuers must always comply.

answer 3 : Issuers can ignore code provisions.

answer 4 : Issuers must only explain deviations.