C1C2Part VI Official Listing
Pt. 6 modified (31.12.2020) by The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/707), regs. 1(2), 73 (as amended by S.I. 2019/1234, regs. 1(2), 23 and with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1234, regs. 1(3), 29(2)))); 2020 c. 1, Sch. 5 para. 1(1)
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)
89LPower to suspend or prohibit trading of securities
1
This section applies to securities admitted to trading on a regulated market.
2
If the F2FCA has reasonable grounds for suspecting that an applicable transparency obligation has been infringed by an issuer, it may—
a
suspend trading in the securities for a period not exceeding 10 days,
b
prohibit trading in the securities, or
c
make a request to the operator of the market on which the issuer's securities are traded—
i
to suspend trading in the securities for a period not exceeding 10 days, or
ii
to prohibit trading in the securities.
3
If the F2FCA has reasonable grounds for suspecting that F3an applicable transparency obligation has been infringed by a voteholder of an issuer, it may—
a
prohibit trading in the securities, or
b
make a request to the operator of the market on which the issuer's securities are traded to prohibit trading in the securities.
4
If the F2FCA finds that an applicable transparency obligation has been infringed, it may require the market operator to prohibit trading in the securities.
5
In this section “transparency obligation” means an obligation F4under qualifying transparency legislation.
F56
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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)