C1C2Part VI Official Listing
Pt. 6 modified (31.12.2020) by The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/707), regs. 1(2), 73 (as amended by S.I. 2019/1234, regs. 1(2), 23 and with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1234, regs. 1(3), 29(2)))); 2020 c. 1, Sch. 5 para. 1(1)
F1Interpretative provisions
Ss. 102A-103 substituted for s. 103 (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(1), Sch. 1 para. 11
F6102BMeaning of “offer of transferable securities to the public” etc.
1
For the purposes of this Part there is an offer of transferable securities to the public if there is a communication to any person which presents sufficient information on—
a
the transferable securities to be offered, and
b
the terms on which they are offered,
to enable an investor to decide to buy or subscribe for the securities in question.
2
For the purposes of this Part, to the extent that an offer of transferable securities is made to a person in the United Kingdom it is an offer of transferable securities to the public in the United Kingdom.
3
The communication may be made—
a
in any form;
b
by any means.
4
Subsection (1) includes the placing of securities through a financial intermediary.
5
Subsection (1) does not include a communication in connection with trading on—
a
a regulated market F4, as defined in Article 2(1)(13) of the markets in financial instruments regulation;
b
a multilateral trading facility; or
F2c
a prescribed market.
F35A
The Treasury may make regulations to specify (whether by name or description) the markets which are prescribed markets for the purposes of subsection (5)(c).
F56
“Multilateral trading facility” has the same meaning as in the markets in financial instruments regulation (see Article 2(1)(14) of that Regulation).
Pt. 6 (ss. 72-103) applied (with modifications) (1.12.2001) by S.I. 1995/1537, Sch. 4 (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 511)