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The Statutory Auditors and Third Country Auditors Regulations 2016
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- UK Statutory Instruments
- 2016 No. 649
- PART 4
- Regulation 21
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Exclusion of large debt securities issuer from definition of “[F1UK-traded third country company]”U.K.
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21.—(1) A large debt securities issuer is excluded from the definition of “[F2UK-traded third country company]” for the purposes of Part 42 of the Act.
(2) In paragraph (1) “large debt securities issuer” means a body corporate whose only issued transferable securities admitted to trading on a [F3UK regulated market] are debt securities, the denomination per unit of which is not less than—
(a)50,000 euros or an equivalent amount, in the case of securities admitted to trading on a [F3UK regulated market] before 31st December 2010,
(b)100,000 euros or an equivalent amount, in the case of securities admitted to trading on a [F3UK regulated market] on or after 31st December 2010.
(3) In paragraph (2)—
“an equivalent amount” means an amount of a currency other than euros which at the date the security was issued was equivalent to the relevant amount of euros; and
“debt securities” has the same meaning as in Article 2(1)(b) of Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/43/EC.
(4) Regulation 43 of the Statutory Auditors and Third Country Auditors Regulations 2007 M1 is revoked.
Textual Amendments
F1Words in reg. 21 heading substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(a); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in reg. 21(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(b); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 21(2) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(c); 2020 c. 1, Sch. 5 para. 1(1)
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