{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-34",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-34.json",
  "legislation": "uksi/2001/544",
  "legislation_title": "The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001",
  "path": "article/34",
  "kind": "article",
  "number": "34",
  "heading": "Arrangements for the issue of shares etc.",
  "text": "(1) There are excluded from article 25(1) and (2)—\n(a) arrangements made by a company for the purposes of issuing its own shares or share warrants; and\n(b) arrangements made by any person for the purposes of issuing his own debentures or debenture warrants;\nand for the purposes of article 25(1) and (2), a company is not, by reason of issuing its own shares or share warrants, and a person is not, by reason of issuing his own debentures or debenture warrants, to be treated as selling them.\n(2) In paragraph (1), “company\", “shares\", “debentures\", “share warrants\" and “debenture warrants\" have the meanings given by article 18(2).\n(3) This article is subject to article 4(4).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Art. 34(3) inserted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), arts. 1(2), 12(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/544/article/34",
    "retrieved_at": "2026-10-29T08:01:12.377334+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}