OpenLegislation

Article 6 Exemption for offers to qualifying persons

Original text. Later amendments are not shown.

(1)

In sub-paragraph (o)(i) of regulation 7(2) of the Public Offers of Securities Regulations 1995 (exemptions) for “a member of the same group as the issuer” substitute “a body corporate connected with the issuer”.

(2)

In paragraph (13) of that regulationf1—

(a)

the definition of “group” is revoked, and

(b)

before the definition of “a relevant trustee” insert—

“a body corporate is “connected with” another body corporate if—

  1. (a)

    they are in the same group, within the meaning of section 421 of the Act, or

  2. (b)

    one is entitled, either alone or with any other body corporate in the same group, to exercise or control the exercise of a majority of the voting rights attributable to the share capital which are exercisable in all circumstances at any general meeting of the other body corporate or its holding company; and”.

Annotations

Footnotes

f1

Paragraph (13) of regulation 7 was substituted by S.I. 2001/3649, article 504(11).