{
  "url": "https://openlegislation.uk/draft-public-offers-and-admissions-to-trading-regulations-2023/regulation-29",
  "json_url": "https://openlegislation.uk/draft-public-offers-and-admissions-to-trading-regulations-2023/regulation-29.json",
  "legislation": "ukdsi/2023/9780348254235",
  "legislation_title": "The Public Offers and Admissions to Trading Regulations 2023",
  "legislation_url": "https://openlegislation.uk/draft-public-offers-and-admissions-to-trading-regulations-2023",
  "path": "regulation/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Power to refuse to accept applications or to prohibit validation or publication",
  "text": "(1) Where the FCA is satisfied that a person has repeatedly and seriously contravened any provision within paragraph (2) (whether or not each contravention is of the same provision), the FCA may decide that, for a period not exceeding 5 years—\n(a) the FCA will not accept from the person any application under regulated market admission rules for the approval of a prospectus,\n(b) the FCA will not engage in any process initiated by the person for validation of a prospectus under regulated market admission rules, and\n(c) the person is not permitted—\n(i) to publish a prospectus,\n(ii) to attempt to have a prospectus approved, or\n(iii) to have a prospectus validated.\n(2) The provisions referred to in paragraph (1) are—\n(a) any provision of regulated market admission rules;\n(b) any provision of these Regulations;\n(c) any provision contained in or made under Part 6 of FSMA 2000;\n(d) section 89 of the Financial Services Act 2012 (misleading statements);\n(e) section 90 of that Act (misleading impressions).\n(3) If the FCA proposes that for a period the restrictions in paragraph (1) are to apply in relation to a person, the FCA must give the person a warning notice specifying the length of the proposed period.\n(4) If the FCA decides that for a period the restrictions in paragraph (1) are to apply in relation to a person—\n(a) the FCA must give the person a decision notice,\n(b) the period starts with the date of the notice, and\n(c) the notice must—\n(i) be dated;\n(ii) specify the length of the period;\n(iii) state that the period begins with the date of the notice; and\n(iv) state that the person may refer the matter to the Tribunal.\n(5) If the FCA decides that for a specified period the restrictions in paragraph (1) are to apply in relation to a person, the person may refer the matter to the Tribunal.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2012 c. 21."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2023/9780348254235/regulation/29",
    "retrieved_at": "2026-10-30T14:42:14.980226+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}