6.—(1) In section 184 of the Act(1) (disregarded holdings)—
(a)in subsection (5)(b), omit “the credit institution or investment firm ensures that”;
(b)after subsection (9) insert—
“(9A) Shares acquired for stabilisation purposes in accordance with Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC as regards exemptions for buy-back programmes and stabilisation of financial instruments(2) are disregarded, provided that the voting power attached to those shares is not exercised or otherwise used to intervene in the management of B or P.”.
(2) In section 301E of the Act(3) (disregarded holdings)—
(a)in subsection (5)(b), omit “the credit institution or investment firm ensures that”;
(b)after subsection (9) insert—
“(9A) Shares acquired for stabilisation purposes in accordance with Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC as regards exemptions for buy-back programmes and stabilisation of financial instruments are disregarded, provided that the voting power attached to those shares is not exercised or otherwise used to intervene in the management of B or P.”.
(3) In section 422A of the Act(4) (disregarded holdings)—
(a)in subsection (5)(b), omit “the credit institution or investment firm ensures that”;
(b)after subsection (9) insert—
“(9A) Shares acquired for stabilisation purposes in accordance with Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC as regards exemptions for buy-back programmes and stabilisation of financial instruments are disregarded, provided that the voting power attached to those shares is not exercised or otherwise used to intervene in the management of B or P.”.
Commencement Information
I1Reg. 6 in force at 1.11.2015 for specified purposes, see reg. 1(2)
I2Reg. 6 in force at 31.5.2016, see reg. 1(4)
Section 184 was substituted by S.I. 2009/534, and amended by S.I. 2011/1613 and 2013/3115.
OJ L 336, 23.12.2003, p.33.
Section 301E was substituted by S.I. 2009/534, and amended by S.I. 2011/1613 and 2013/3115.
Section 422A of the Act was substituted by S.I. 2009/534, and amended by S.I. 2011/1613 and 2013/3115.