C1Part 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)

F1Transferable securities: powers of competent authority

Annotations:
Amendments (Textual)
F1

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

87KPower to suspend or prohibit offer to the public

 

1

This section applies where a person (“the offeror”) has made an offer of transferable securities to the public in the United Kingdom (“the offer”).

2

If the competent authority has reasonable grounds for suspecting that an applicable provision has been infringed, it may—

a

require the offeror to suspend the offer for a period not exceeding 10 working days;

b

require a person not to advertise the offer, or to take such steps as the authority may specify to suspend any existing advertisement of the offer, for a period not exceeding 10 working days.

3

If the competent authority has reasonable grounds for suspecting that it is likely that an applicable provision will be infringed, it may require the offeror to withdraw the offer.

4

If the competent authority finds that an applicable provision has been infringed, it may require the offeror to withdraw the offer.

5

“An applicable provision” means—

a

a provision of this Part,

b

a provision contained in prospectus rules,

c

any other provision made in accordance with the prospectus directive,

applicable in relation to the offer.