CHAPTER IVEXEMPTIONS
Article 16Exemption where the principal trading venue is in a third country
1
Articles 5, 6, 12 and 15 shall not apply to shares of a company admitted to trading on a trading venue in the F1United Kingdom where the principal venue for the trading of the shares is located in a third country.
2
F2Where the shares of a company are traded on a trading venue in the United Kingdom and a venue located in a third country the FCA shall determine, at least every two years, whether the principal trading venue for the trading of those shares is located in a third country.
F3Where the shares of a company traded on a trading venue in the United Kingdom and a venue located in a third country were included in the most recent list published by ESMA under Article 16.2 of this Regulation as it had effect before IP completion day, those shares are to be treated as entitled to the exemption provided for in paragraph 1 for a period of two years beginning with IP completion day.
F4...
Every 2 years F5the FCA shall publish the list of shares for which the principal trading venue is located in a third country. The list shall be effective for a 2-year period.
3
4
F10For the purposes of paragraphs 1 and 2, the FCA may make technical standards to determine:
a
the date on which and period in respect of which any calculation determining the principal trading venue for a share is to be made;
F11b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c
the date from which the list is to be effective following publication by F9the FCA.