The Statutory Auditors and Third Country Auditors Regulations 2007

Exclusion of large debt securities issuer from definition of “UK-traded non-EEA company”

43.—(1) A large debt securities issuer is excluded from the definition of “UK-traded non-EEA company” for the purposes of Part 42 of the Companies Act 2006 (see section 1241(2)).

(2) In paragraph (1) “large debt securities issuer” means a body corporate whose only issued transferable securities admitted to trading on a regulated market are debt securities, the denomination per unit of which is not less than—

(a) 50,000 euros, or

(b) in the case of debt securities denominated in a currency other than euros, a sum equivalent at the date of issue to 50,000 euros.

(3) In paragraph (2)—

“debt securities” has the same meaning as in Article 2.1(b) of Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC(1);

“transferable securities” and “regulated market” have the same meaning as in section 1241(3) of the Companies Act 2006.

(1)

OJ L 390, 31.12.2004, p. 38.