Valid from 01/07/2005
[F187BExemptions from disclosureU.K.
(1)The competent authority may authorise the omission from a prospectus of any information, the inclusion of which would otherwise be required, on the ground—
(a)that its disclosure would be contrary to the public interest;
(b)that its disclosure would be seriously detrimental to the issuer, provided that the omission would be unlikely to mislead the public with regard to any facts or circumstances which are essential for an informed assessment of the kind mentioned in section 87A(2); or
(c)that the information is only of minor importance for a specific offer to the public or admission to trading on a regulated market and unlikely to influence an informed assessment of the kind mentioned in section 87A(2).
(2)The Secretary of State or the Treasury may issue a certificate to the effect that the disclosure of any information would be contrary to the public interest.
(3)The competent authority is entitled to act on any such certificate in exercising its powers under subsection (1)(a).
(4)This section does not affect any powers of the competent authority under prospectus rules.
(5)“Prospectus” includes a supplementary prospectus.]
Textual Amendments
F1 Ss. 84-87R and cross-headings substituted for ss. 84-87 (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(1), Sch. 1 para. 5