{
  "url": "https://openlegislation.uk/public-offers-of-securities-regulations-1995/schedule-1/paragraph-1",
  "json_url": "https://openlegislation.uk/public-offers-of-securities-regulations-1995/schedule-1/paragraph-1.json",
  "legislation": "uksi/1995/1537",
  "legislation_title": "The Public Offers of Securities Regulations 1995",
  "legislation_url": "https://openlegislation.uk/public-offers-of-securities-regulations-1995",
  "path": "schedule/1/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "In this Schedule, except where the context otherwise requires—\n“annual accounts” has the same meaning as in Part VII of the Companies Act 1985;\n“control” means the ability, in practice, to determine the actions of the issuer; and “joint control” means control exercised by two or more persons who have an agreement or understanding (whether formal or informal) which may lead to their adopting a common policy in respect of the issuer;\n“debentures” means securities falling within paragraph 2 of Schedule 1 to the Act;\n“financial year” has the same meaning as in Part VII of the Companies Act 1985;\n“group accounts” has the same meaning as in Part VII of the Companies Act 1985;\n“the last three years”, in relation to an undertaking whose accounts are required to be dealt with in a prospectus, means three completed financial years which immediately precede the date on which the offer is first made and which cover a continuous period of at least 35 months, disregarding a financial year which ends less than three months before the date on which the offer is first made and for which accounts have not been prepared by that date;\n“parent undertaking” and “subsidiary undertaking” have the same meaning as in Part VII of the Companies Act 1985;\n“State of affairs” means the state of affairs of an undertaking, in relation to its balance sheet, at the end of a financial year;\n“subsidiary” and “holding company” have the same meaning as in sections 736 and 736A of the Companies Act 1985; and\n“undertaking” has the same meaning as in Part VII of the Companies Act 1985.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    },
    {
      "type": "amended",
      "affecting": "uksi/1999/734",
      "affecting_title": "The Public Offers of Securities (Amendment) Regulations 1999"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/1537/schedule/1/paragraph/1",
    "retrieved_at": "2026-10-29T13:07:37.138489+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."
}