# Commission Regulation (EC) No 1287/2006 of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market transparency, admission of financial instruments to trading, and defined terms for the purposes of that Directive (Text with EEA relevance), Article 20: (Articles 29(2) and 44(2), and fifth subparagraph of Article 27(1) of Directive 2004/39/EC)Waivers in relation to transactions which are large in scale

Extent: E+W+S+N.I.

An order shall be considered to be large in scale compared with normal market size if it is equal to or larger than the minimum size of order specified in Table 2 in Annex II. For the purposes of determining whether an order is large in scale compared to normal market size, all shares admitted to trading on a regulated market shall be classified in accordance with their average daily turnover, which shall be calculated in accordance with the procedure set out in Article 33.

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Source: https://www.legislation.gov.uk/eur/2006/1287/article/20 (the official version)
Page: https://openlegislation.uk/eu-regulation-2006-1287/article-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.