(1)No private company and no old public company shall issue or cause to be issued in the United Kingdom any advertisement offering securities to be issued by that company.
(2)Subsection (1) above shall not apply to an advertisement issued in such circumstances as may be specified by an order made by the Secretary of State for the purpose of exempting from that subsection such advertisements as are mentioned in section 160(6)(a), (b) or (c) above.
(3)An order under subsection (2) above may require any person who by virtue of the order is authorised to issue an advertisement to comply with such requirements as are specified in the order.
(4)An order under subsection (2) above shall be subject to annulment in pursuance of a resolution of either House of Parliament
(5)In this section " old public company " has the meaning given in section 1 of the [1985 c. 9.] Companies Consolidation (Consequential Provisions) Act 1985 or the corresponding Northern Ireland provision.