CHAPTER I

GENERAL PROVISIONS

Purpose and scope
Article 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Definitions
Article 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Obligation to publish a prospectus
Article 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exemptions from the obligation to publish a prospectus
Article 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER II

DRAWING UP OF THE PROSPECTUS

The prospectus
Article 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Responsibility attaching to the prospectus
Article 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Minimum information
Article 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Omission of information
Article 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Validity of a prospectus, base prospectus and registration document
Article 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information
Article 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Incorporation by reference
Article 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Prospectuses consisting of separate documents
Article 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER III

ARRANGEMENTS FOR APPROVAL AND PUBLICATION OF THE PROSPECTUS

Approval of the prospectus
Article 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Publication of the prospectus
Article 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Advertisements
Article 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Supplements to the prospectus
Article 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER IV

CROSS-BORDER OFFERS AND ADMISSION TO TRADING

Community scope of approvals of prospectuses
Article 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notification
Article 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER V

USE OF LANGUAGES AND ISSUERS INCORPORATED IN THIRD COUNTRIES

Use of languages
Article 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Issuers incorporated in third countries
Article 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER VI

COMPETENT AUTHORITIES

Powers
Article 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Professional secrecy and cooperation between authorities
Article 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Precautionary measures
Article 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER VII

IMPLEMENTING MEASURES

Committee procedure
Article 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exercise of the delegation
Article 24a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Revocation of the delegation
Article 24b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Objections to delegated acts
Article 24c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sanctions
Article 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Right of appeal
Article 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER VIII

TRANSITIONAL AND FINAL PROVISIONS

Amendments
Article 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Repeal
Article 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transposition
Article 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional provision
Article 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Review
Article 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Staff and resources of ESMA
Article 31a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Entry into force
Article 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Addressees
Article 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Repealed by Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (Text with EEA relevance).