# The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019, Regulation 33: Meaning of “securities” etc.


(1) Section 102A (meaning of “securities” etc.) is amended as follows.
(2) In subsection (3), for “directive”, in both places where it occurs, substitute “regulation”.
(3) For subsection (3A) substitute—
“(3A) “Debt securities” means bonds or other forms of transferable securitised debts, with the exception of—
(a) transferable securities which are equivalent to shares, and
(b) transferable securities which, if converted or if the rights conferred by them are exercised, give rise to a right to acquire—
(i) shares, or
(ii) transferable securities equivalent to shares.”.
(4) In subsection (4), for the words from “has” to the end substitute “means those instruments specified in Part 1 of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001”.
(5) For subsection (5) substitute—
“(5) “Non-equity transferable securities” means all transferable securities that are not equity securities; and for this purpose the following are “equity securities”—
(a) shares,
(b) other transferable securities which are equivalent to shares, and
(c) transferable securities which—
(i) are within neither of paragraphs (a) and (b),
(ii) give the right to acquire securities within paragraph (a) or (b) if converted or if the rights conferred by them are exercised, and
(iii) are issued by the issuer of the underlying shares or by an entity belonging to the group of that issuer.”.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111178881/regulation/33 (the official version)
Page: https://openlegislation.uk/draft-official-listing-of-securities-prospectus-and-transparency-amendment-etc-eu-exit-regulations-2019/regulation-33
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.