SCHEDULE 2U.K.Transfer of functions to the Treasury and the FCA

PART 2U.K.Directive functions transferred to the Treasury

13.  In order to take account of developments on financial markets, to do one or more of the following—U.K.

(a)to specify requirements to be met by shareholders when giving notification to the issuer of the proportion of voting rights as a result of events changing the breakdown of voting rights, and on the basis of the information disclosed pursuant to rule 5.6.1 of the Disclosure Guidance and Transparency Rules sourcebook;

(b)to specify requirements to be complied with in order for an issuer to benefit from the exemption in rule 5.1.3 (1) or (2) of that sourcebook;

(c)to specify requirements to be complied with in order for an issuer to benefit from the exemption in rule 5.1.3(3) of that sourcebook;

(d)to specify the maximum length of the settlement cycle referred to in rule 5.1.3(1) of that sourcebook;

(e)to draw up a list of the events changing the breakdown of voting rights and giving rise to an obligation to notify the issuer in accordance with rule 5.1.2 of that sourcebook M1.