Part VI Official Listing
F1Transferable securities: powers of competent authority
87MPublic censure of issuer
(1)
If the competent authority finds that—
(a)
an issuer of transferable securities,
(b)
a person offering transferable securities to the public, or
(c)
a person requesting the admission of transferable securities to trading on a regulated market,
is failing or has failed to comply with his obligations under an applicable provision, it may publish a statement to that effect.
(2)
If the competent authority proposes to publish a statement, it must give the person a warning notice setting out the terms of the proposed statement.
(3)
If, after considering any representations made in response to the warning notice, the competent authority decides to make the proposed statement, it must give the person a decision notice setting out the terms of the statement.
(4)
“An applicable provision” means—
(a)
a provision of this Part,
(b)
a provision contained in prospectus rules,
(c)
any other provision made in accordance with the prospectus directive,
applicable to a prospectus in relation to the transferable securities in question.
(5)
“Prospectus” includes a supplementary prospectus.