# The Public Offers of Securities Regulations 1995, Regulation 5: Offers of securities


A person is to be regarded as offering securities if, as principal
(a) the makes an offer which, if accepted, would give rise to a contract for the issue or sale of the securities by him or by another person with whom he has made arrangements for the issue or sale of the securities; or
(b) he invites a person to make such an offer;
but not otherwise; and, except where the context otherwise requires, in this Part of these Regulations “offer” and “offeror” shall be construed accordingly.

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Source: https://www.legislation.gov.uk/uksi/1995/1537/regulation/5 (the official version)
Page: https://openlegislation.uk/public-offers-of-securities-regulations-1995/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.