Civil liability attaching to the summary
This section has no associated Explanatory Memorandum
7. In section 90 of the 2000 Act(1) (compensation for statements in listing particulars or prospectus) for subsection (12) substitute—
“(12) A person is not to be subject to civil liability solely on the basis of a summary in a prospectus unless the summary, when read with the rest of the prospectus—
(a)is misleading, inaccurate or inconsistent; or
(b)does not provide key information (as defined in section 87A(9) and (10)),
and in this subsection a summary includes any translation of it.”.
(1)
Section 90 was inserted by S.I. 2005/1433 and amended by the Companies Act 2006 (c.46), section 1272, Schedule 15, Part 1, paragraphs 1, 4, 5.