Paragraph 26

Section 519A (meaning of “public interest company”, “non-public interest company” and “exempt reasons”)^f1 is amended as follows.

In subsection (1) for the definition of “public interest company” substitute—

• ““public interest company” means a company which is—

  1. (a)

     an issuer whose transferable securities are admitted to trading on a regulated market;

  2. (b)

     a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council^f2, other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms^f3; or

  3. (c)

     an insurance undertaking within the meaning given by Article 2(1) of Council Directive 1991/674/EEC of the European Parliament and of the Council on the annual accounts and consolidated accounts of insurance undertakings^f4;”.

For subsection (2) substitute—

“(2)

For the purposes of the definition of “public interest company”—

• “issuer” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 102A(6)^f5);

• “regulated market” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 103(1)^f6);

• “transferable securities” means anything which is a transferable security for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments^f7.”.