C1Part VI Official Listing
F1Powers exercisable in case of infringement of transparency obligation
Ss. 89K-89N and cross-heading inserted (8.11.2006) by Companies Act 2006 (c. 46), ss. 1268, 1300(1)(a)
89KPublic censure of issuer
1
If the competent authority finds that an issuer of securities admitted to trading on a regulated market is failing or has failed to comply with an applicable transparency obligation, it may publish a statement to that effect.
2
If the competent authority proposes to publish a statement, it must give the issuer a warning notice setting out the terms of the proposed statement.
3
If, after considering any representations made in response to the warning notice, the competent authority decides to make the proposed statement, it must give the issuer a decision notice setting out the terms of the statement.
4
A notice under this section must inform the issuer of his right to refer the matter to the Tribunal (see section 89N) and give an indication of the procedure on such a reference.
5
In this section “transparency obligation” means an obligation under—
a
a provision of transparency rules, or
b
any other provision made in accordance with the transparency obligations directive.
6
In relation to an issuer whose home State is a member State other than the United Kingdom, any reference to an applicable transparency obligation must be read subject to section 100A(2).
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)