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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations further amend the Public Offers of Securities Regulations 1995, which implement Council Directive 89/298/EEC, coordinating the requirements for the drawing-up, scrutiny and distribution of the prospectus to be published when transferable securities are offered to the public (OJ L124, 5.5.89, p. 8). They provide for a wider definition of the circumstances in which offers of Euro-securities may be advertised whilst benefiting from an exemption from the requirement to publish a prospectus.

These Regulations revoke provisions in the Public Offers of Securities (Amendment) Regulations 1999 which also dealt with Euro-securities and which will not now come into force.