Article 6 Convertible securities

(1)

For the purposes of paragraph 17(1) of Schedule 11 (convertible securities) there are specified the provisions of—

(a)

Part III of the Companies Act 1985^f1; and

(b)

the Public Offers of Securities Regulations.

(2)

For the purposes of paragraph 17(2) of Schedule 11 (convertible securities) there is specified any security which is—

(a)

an investment of the kind specified by article 77 of the Regulated Activities Order (instruments creating or acknowledging indebtedness);

(b)

an investment of the kind specified by article 79 of the Regulated Activities Order (instruments giving entitlements to investments) insofar as relating to investments of the kind specified by article 76 of that Order (shares); or

(c)

an investment of the kind specified by article 80 of the Regulated Activities Order (certificates representing securities) insofar as relating to investments of the kind specified by article 76 of that Order (shares).

(3)

For the purposes of paragraph 2(b) and (c) above, paragraph (3) of article 76 of the Regulated Activities Order (exclusion relating to building societies, industrial and provident societies, credit unions, and equivalent bodies in other EEA States) is to be disregarded.

Annotations

Footnotes

f1: 1985 c. 6. Part III was repealed by the Financial Services Act 1986 (c. 60) Schedule 17 and S.I. 1995/1538 (C. 33) for all but limited purposes.