# Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (Text with EEA relevance) (repealed) EU Directive 2003/71 ยท adopted 4 November 2003 Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (Text with EEA relevance) (repealed) ## Introductory text Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (Text with EEA relevance) (repealed) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter I: GENERAL PROVISIONS ## 1 Purpose and scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Obligation to publish a prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Exemptions from the obligation to publish a prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter II: DRAWING UP OF THE PROSPECTUS ## 5 The prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Responsibility attaching to the prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Minimum information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Omission of information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Validity of a prospectus, base prospectus and registration document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Incorporation by reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Prospectuses consisting of separate documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter III: ARRANGEMENTS FOR APPROVAL AND PUBLICATION OF THE PROSPECTUS ## 13 Approval of the prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Publication of the prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Advertisements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Supplements to the prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter IV: CROSS-BORDER OFFERS AND ADMISSION TO TRADING ## 17 Community scope of approvals of prospectuses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Notification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter V: USE OF LANGUAGES AND ISSUERS INCORPORATED IN THIRD COUNTRIES ## 19 Use of languages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 Issuers incorporated in third countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter VI: COMPETENT AUTHORITIES ## 21 Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 Professional secrecy and cooperation between authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Precautionary measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter VII: IMPLEMENTING MEASURES ## 24 Committee procedure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24a Exercise of the delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24b Revocation of the delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24c Objections to delegated acts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Sanctions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 26 Right of appeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter VIII: TRANSITIONAL AND FINAL PROVISIONS ## 27 Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Repeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 29 Transposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 30 Transitional provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31a Staff and resources of ESMA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Entry into force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Addressees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex I: PROSPECTUS ## I Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## II Identity of directors, senior management, advisers and auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## III Offer statistics and expected timetable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## IV Essential information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## V Information on the company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VI Operating and financial review and prospects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VII Directors, senior management and employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VIII Major shareholders and related-party transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## IX Financial information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## X Details of the offer and admission to trading details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## XI Additional information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex II: REGISTRATION DOCUMENT ## I Identity of directors, senior management, advisers and auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## II Essential information about the issuer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## III Information on the company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## IV Operating and financial review and prospects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## V Directors, senior management and employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VI Major shareholders and related-party transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VII Financial information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VIII Additional information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex III: SECURITIES NOTE ## I Identity of directors, senior management, advisers and auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## II Offer statistics and expected timetable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## III Essential information about the issuer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## IV Interests of experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## V Details of the offer and admission to trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## VI Additional information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex IV SUMMARY NOTE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eudr/2003/71 (the official version) Page: https://openlegislation.uk/eu-directive-2003-71 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.