C1C2Part VI Official Listing

Annotations:
Modifications etc. (not altering text)
C1

Pt. 6 (ss. 72-103) applied (with modifications) (1.12.2001) by S.I. 1995/1537, Sch. 4 (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 511)

F8F2Transferable securities: public offers and admission to tradingF8Contravention of prohibition relating to public offer of securities

Annotations:
Amendments (Textual)
F8

S. 84 cross-heading substituted (30.1.2024 for specified purposes) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), reg. 2(2)(3), Sch. 3 para. 4 (with regs. 48-50)

F2

Ss. 84-87R and cross-headings substituted for ss. 84-87 (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(1), Sch. 1 para. 5

85F1F9Prohibition of dealing etc. in transferable securities without approved prospectusF9Contravention of prohibition relating to public offer of securities

1

F10It is unlawful for transferable securities to which this subsection applies to be offered to the public in the United Kingdom unless an approved prospectus has been made available to the public before the offer is made.

2

F10It is unlawful to request the admission of transferable securities to which this subsection applies to trading on a regulated market situated or operating in the United Kingdom unless an approved prospectus has been made available to the public before the request is made.

3

A person who contravenes F11subsection (1) or (2)F11regulation 12 of the Public Offers and Admissions to Trading Regulations 2024 (prohibition of public offers of relevant securities) is guilty of an offence and liable—

a

on summary conviction, to imprisonment for a term not exceeding 3 months or a fine not exceeding the statutory maximum or both;

b

on conviction on indictment, to imprisonment for a term not exceeding 2 years or a fine or both.

4

A contravention of F12subsection (1) or (2)F12regulation 12 of the Public Offers and Admissions to Trading Regulations 2024 is actionable, at the suit of a person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.

5

F13Subsection (1) applies to all transferable securities other than—

F4a

those listed in Article 1(2) of the prospectus regulation;

b

any offered in an offer falling within Article 1(3) of the prospectus regulation.

6

F13Subsection (2) applies to all transferable securities F5other than those listed in Article 1(2) of the prospectus regulation.

F36A

F13Schedule 11A makes provision that applies for the purposes of Article 1(2)(e) of the prospectus regulation.

7

F13“Approved prospectus” means, in relation to transferable securities to which this section applies, a prospectus approved by the F6FCA.

F78

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