74.—(1) Paragraphs (2) and (3) apply to a prospectus, and any supplement to that prospectus, in respect of which the FCA has received a notification of approval given in accordance with Article 25 of the Prospectus Regulation before [F1IP completion day].
(2) On and after [F1IP completion day], the prospectus and any supplement is to be treated for the purposes of the Prospectus Regulation (as it forms part of retained EU law) as if it had been approved by the FCA at the time when it was approved by the competent authority of the home Member State.
(3) Terms used in paragraphs (1) and (2) which are used in the Prospectus Regulation, in particular “approval”, “competent authority” and “home Member State”, have the meanings given in the Prospectus Regulation, as read with Annex 9 to the EEA Agreement, as that Regulation applied immediately before [F1IP completion day].
(4) Where, on or after [F1IP completion day], a supplement is required under Article 23 of the Prospectus Regulation to a prospectus referred to in paragraph (1), the FCA is the competent authority in relation to that supplement for the purposes of the Prospectus Regulation.
Textual Amendments
F1Words in reg. 74 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(f)
Commencement Information
I1Reg. 74 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)
75.—(1) Paragraphs (2) to (4) apply in relation to a registration document or universal registration document, and any amendment or supplement to those documents, in respect of which the FCA has received a notification of approval given in accordance with Article 26 of the Prospectus Regulation before [F2IP completion day].
(2) On and after [F2IP completion day], the registration document or universal registration document and any amendment or supplement to those documents, is to be treated for the purposes of the Prospectus Regulation (as it forms part of retained EU law) as if it had been approved by the FCA at the time when the competent authority of the Member State gave the approval in question.
(3) A registration document or universal registration document notified in accordance with paragraph (2) may be used on or after [F2IP completion day] as a constituent part of a prospectus submitted for approval to the FCA.
(4) Terms used in paragraphs (1) and (2) which are used in the Prospectus Regulation have the meanings given in the Prospectus Regulation, as read with Annex 9 to the EEA Agreement, as that Regulation applied immediately before [F2IP completion day].
(5) Where, on or after [F2IP completion day], a supplement is required under Article 23 of the Prospectus Regulation to a registration document or universal registration document referred to in paragraph (1), the FCA is the competent authority in relation to that supplement for the purposes of the Prospectus Regulation.
Textual Amendments
F2Words in reg. 75 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(g)
Commencement Information
I2Reg. 75 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)