Paragraph 5 Liability of issuer for dishonest delay in publishing informationF1

(1)

An issuer of securities to which this Schedule applies is liable to pay compensation to a person who—

(a)

acquires, continues to hold or disposes of the securities, and

(b)

suffers loss in respect of the securities as a result of delay by the issuer in publishing information to which this Schedule applies.

(2)

The issuer is liable only if a person discharging managerial responsibilities within the issuer acted dishonestly in delaying the publication of the information.

Annotations

Textual amendments

F1: Sch. 10A inserted (1.10.2010 with effect in accordance with reg. 3(1) of the amending S.I.) by The Financial Services and Markets Act 2000 (Liability of Issuers) Regulations 2010 (S.I. 2010/1192), reg. 2(3), Sch.