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The Prospectus (Amendment etc.) (EU Exit) Regulations 2019
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Changes to legislation:
The Prospectus (Amendment etc.) (EU Exit) Regulations 2019, PART 2 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Part 2:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
PART 2U.K.Amendments of FSMA
Amendments of FSMAU.K.
2. FSMA is amended as follows.
Commencement Information
I1Reg. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Matters which may be dealt with by prospectus rulesU.K.
3. In section 84 (matters which may be dealt with by prospectus rules) M1, in subsection (2)(i), omit the words from “, or elections” to the end.
Commencement Information
I2Reg. 3 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M1Section 84(2)(i) was substituted by S.I. 2019/1043.
Prohibition of dealing etc in transferable securities without approved prospectusU.K.
4. In section 85 (prohibition of dealing etc in transferable securities without approved prospectus) M2, omit subsection (8).
Commencement Information
I3Reg. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M2Section 85(8) was inserted by S.I. 2019/1043.
Exempt offers to the public and admissions to tradingU.K.
5. In section 86 (exempt offers to the public and admissions to trading), in subsection (2)(a), omit the words “the first sentence of”M3.
Commencement Information
I4Reg. 5 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M3Section 86(2)(a) was amended by S.I. 2019/1043.
Power of FCA to suspend or prohibit trading on a trading facilityU.K.
6. In section 87LA (power of FCA to suspend or prohibit trading on a trading facility) M4, in subsection (5), for the definitions of “multilateral trading facility”, “organised trading facility” and “trading facility” substitute—
““trading facility” means a UK multilateral trading facility or a UK organised trading facility;
“UK multilateral trading facility” has the meaning given in Article 2(1)(14A) of the markets in financial instruments regulation;
“UK organised trading facility” has the meaning given in Article 2(1)(15A) of the markets in financial instruments regulation.”.
Commencement Information
I5Reg. 6 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M4Section 87LA was inserted by S.I. 2019/1043.
Reporting of infringementsU.K.
7.—(1) Section 97A (reporting of infringements) is amended as follows.
(2) In subsection (1)(b)(iii), omit “, an EEA central counterparty”.
(3) For subsection (2)—
(a)omit the “or” at the end of paragraph (a), and
(b)for paragraph (b) substitute—
“(b)any EU regulation, originally made under the prospectus regulation, which is retained EU law, or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the prospectus regulation on or after [F1IP completion day].”.
Textual Amendments
F1Words in reg. 7(3) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 48(a)
Commencement Information
I6Reg. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Publication of noticesU.K.
8. In section 391 (publication of notices), in subsection (8G) M5, for the words from “imposed by” to “this section” substitute—
“imposed by—
(a)the prospectus regulation,
(b)any EU regulation, originally made under the prospectus regulation, which is retained EU law, or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the prospectus regulation on or after [F2IP completion day],
this section”.
Textual Amendments
F2Words in reg. 8 substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 48(b)
Commencement Information
I7Reg. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M5Subsection 8G was inserted by S.I. 2019/1043.
Publication of notices – prospectus regulationU.K.
9. In section 391F M6 (publication of notices: special provisions relating to the prospectus regulation), in subsection (1), for “to which Article 42 of the prospectus regulation applies” substitute “ for an infringement of the prospectus regulation ”.
Commencement Information
I8Reg. 9 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(4)
Marginal Citations
M6Section 391F was inserted by S.I. 2019/1043.
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