# Financial Services and Markets Act 2000, Paragraph 20

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

(1) The securities offered are Euro-securities and no advertisement relating to the offer is issued in the United Kingdom, or is caused to be so issued—
(a) by the issuer of the Euro-securities;
(b) by any credit institution or other financial institution through which the Euro-securities may be acquired pursuant to the offer; or
(c) by any body corporate which is a member of the same group as the issuer or any of those institutions.
(2) But sub-paragraph (1) does not apply to an advertisement of a prescribed kind.
(3) “Euro-securities” means investments which—
(a) are to be underwritten and distributed by a syndicate at least two of the members of which have their registered offices in different countries or territories;
(b) are to be offered on a significant scale in one or more countries or territories, other than the country or territory in which the issuer has its registered office; and
(c) may be acquired pursuant to the offer only through a credit institution or other financial institution.
(4) “Credit institution” means a credit institution as defined in Article 1(1)(a) of the banking consolidation directive.
(5) “Financial institution” means a financial institution as defined in Article 1 of the banking consolidation directive.
(6) “Underwritten” means underwritten by whatever means, including by acquisition or subscription, with a view to resale.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/schedule/11/paragraph/20 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-11/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.