Valid from 08/11/2006
[F189KPublic censure of issuerU.K.
(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).]
Textual Amendments
F1Ss. 89K-89N and cross-heading inserted (8.11.2006) by Companies Act 2006 (c. 46), ss. 1268, 1300(1)(a)