CHAPTER II

TRANSPARENCY OF NET SHORT POSITIONS

Notification to competent authorities of significant net short positions in shares
Article 5
1
A natural or legal person who has a net short position in relation to the issued share capital of a company that has shares admitted to trading on a trading venue shall notify the FCA, in accordance with Article 9, where the position reaches or falls below a relevant notification threshold referred to in paragraph 2 of this Article.
2
A relevant notification threshold is a percentage that equals 0,2% of the issued share capital of the company concerned and each 0,1 % above that.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
The Treasury may by regulations modify the thresholds referred to in paragraph 2 of this Article, taking into account the developments in financial markets.
Word in Art. 5(1) substituted (31.12.2020) by The Short Selling (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1321), regs. 1(2), 8(1)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Art. 5(3) omitted (31.12.2020) by virtue of The Short Selling (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1321), regs. 1(2), 8(1)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 5(4) substituted (31.12.2020) by The Short Selling (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1321), regs. 1(2), 8(1)(c) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Word in Art. 5(2) substituted (5.2.2024) by The Short Selling (Notification Threshold) Regulations 2023 (S.I. 2023/1258), regs. 1(2), 2