SCHEDULE 1AMENDMENTS TO THE ACT
7
1
Section 91 (penalties for breach of listing rules) is amended as follows.
2
After subsection (1) insert—
1A
If the competent authority considers that—
a
an issuer of transferable securities,
b
a person offering transferable securities to the public or requesting their admission to trading on a regulated market,
c
an applicant for the approval of a prospectus in relation to transferable securities,
d
a person on whom a requirement has been imposed under section 87K or 87L, or
e
any other person to whom a provision of the prospectus directive applies,
has contravened a provision of this Part or of prospectus rules, or a provision otherwise made in accordance with the prospectus directive or a requirement imposed on him under such a provision, it may impose on him a penalty of such amount as it considers appropriate.
3
In subsection (2)—
a
for “by an applicant or an issuer” substitute “by a person”;
b
for “or (1)(b)(i)” substitute “, (1)(b)(i) or (1A) (“P”)”;
c
for “a person” substitute “another person”; and
d
for “that applicant or issuer” substitute “P”.
4
For the title substitute “Penalties for breach of Part 6 rules”.