The Prospectus (Amendment etc.) (EU Exit) Regulations 2019, PART 3 is up to date with all changes known to be in force on or before 09 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.
10. The 2019 Regulations are amended as follows.
Commencement Information
I1Reg. 10 in force at 6.9.2019, see reg. 1(2)
11. Omit regulation 4 (amendment of section 73A – Part 6 rules).
Commencement Information
I2Reg. 11 in force at 6.9.2019, see reg. 1(2)
12. Omit regulation 6 (amendment of section 84 – matters which may be dealt with by prospectus rules).
Commencement Information
I3Reg. 12 in force at 6.9.2019, see reg. 1(2)
13. In regulation 8 (amendment of section 86 – exempt offers to the public)—
(a)in paragraph (2), omit sub-paragraph (a), and
(b)omit paragraphs (3), (4) and (6) to (10).
Commencement Information
I4Reg. 13 in force at 6.9.2019, see reg. 1(2)
14. Omit regulation 9 (amendment of section 87 – election to have prospectus).
Commencement Information
I5Reg. 14 in force at 6.9.2019, see reg. 1(2)
15. In regulation 10 (amendment of section 87A – criteria for approval of prospectus by FCA)—
(a)in paragraph (2), omit sub-paragraph (b), and
(b)omit paragraphs (4) and (5).
Commencement Information
I6Reg. 15 in force at 6.9.2019, see reg. 1(2)
16. Omit the following regulations—
(a)regulation 11 (amendment of section 87D – procedure for decision on application for approval);
(b)regulation 12 (repeal of sections 87E and 87F – transfer of application for approval of a prospectus);
(c)regulation 13 (repeal of section 87FB – communication of final terms by FCA);
(d)regulation 14 (repeal of sections 87H and 87I – passporting);
(e)regulation 15 (amendment of section 87K – power to suspend or prohibit offer to the public);
(f)regulation 16 (amendment of section 87L – power to suspend, restrict or prohibit admission to trading on a regulated market), and
(g)regulation 17 (amendment of section 87M – public censure of issuer).
Commencement Information
I7Reg. 16 in force at 6.9.2019, see reg. 1(2)
17. In regulation 30 (amendment of section 91 – penalties for breach of Part 6 rules), omit paragraph (2).
Commencement Information
I8Reg. 17 in force at 6.9.2019, see reg. 1(2)
18. In regulation 31 (amendment of section 97 – appointment by FCA of persons to carry out investigations), for paragraphs (a) and (b) substitute—
“(a)in paragraph (a), for sub-paragraph (ii) (including the “or” at the end) substitute—
“(ii)any other provision of qualifying transparency legislation, or”;
(b)in paragraph (b), for sub-paragraph (ii) (including the “or” at the end) substitute—
“(ii)any other provision of qualifying transparency legislation, or”;”.
Commencement Information
I9Reg. 18 in force at 31.12.2020 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
19. In regulation 36 (amendment of section 103 – interpretation of Part 6), in the text inserted by paragraph (a), omit the definition of “qualifying prospectus legislation”.
Commencement Information
I10Reg. 19 in force at 6.9.2019, see reg. 1(2)
20. In regulation 38 (amendment of schedule 11A – transferable securities) M1, omit paragraphs (2) to (5), (7) and (8).
Commencement Information
I11Reg. 20 in force at 6.9.2019, see reg. 1(2)
Marginal Citations
M1Schedule 11A to FSMA is amended by S.I. 2019/1043.
21. Omit regulations 40 to 66 (amendments of Commission Regulation (EC) No. 809/2004) M2.
Commencement Information
I12Reg. 21 in force at 6.9.2019, see reg. 1(2)
Marginal Citations
M2Commission Regulation (EC) No. 809/2004 is repealed by Commission Delegated Regulation (EU) 2019/980 of 14 March 2019 supplementing Regulation (EU) 2017/1129 of the European Parliament and of the Council as regards the format, content, scrutiny and approval of the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Commission Regulation (EC) No 809/2004 (OJ No. L166/26 21.06.2019, p.26)
22. In regulation 67 (Commission Regulation (EC) No 1569/2007), in paragraph (2), omit sub-paragraph (c).
Commencement Information
I13Reg. 22 in force at 6.9.2019, see reg. 1(2)
23. In regulation 73 (prospectus approved before exit day by competent authority of other EEA state) of the 2019 Regulations—
(a)in the heading, for “exit day” substitute “ 21st July 2019 ”;
(b)in paragraph (1)(a), for “exit day” substitute “ 21st July 2019 ”;
(c)after paragraph (4), insert—
“(5) In this regulation, references to FSMA 2000 are references to that Act as it had effect immediately before 21st July 2019.”.
Commencement Information
I14Reg. 23 in force at 6.9.2019, see reg. 1(2)
24. Omit Schedule 1 (amendments of annexes to Commission Regulation (EC) No 809/2004).
Commencement Information
I15Reg. 24 in force at 6.9.2019, see reg. 1(2)
25.—(1) Schedule 2 (transfer of functions to the Treasury and FCA) is amended as follows.
(2) In paragraph 1, omit the definitions of “the prospectus regulation” and “the Prospectus Rules sourcebook”.
(3) Omit paragraphs 3 to 9.
(4) Omit paragraphs 22 to 30.
Commencement Information
I16Reg. 25 in force at 6.9.2019, see reg. 1(2)
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