Paragraph 21

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 1 para. 1 words substituted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 510(a)
Sch. 1 para. 1A inserted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 510(b)
Sch. 1 Pt. 2 para. 8 words substituted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 510(c)
Sch.1, para.10 amended by Public Offers of Securities 1999 reg 2(o)

Where the prospectus relates to shares which are offered for subscription, particulars as to—

(a)

the minimum amount which, in the opinion of the directors of the issuer, must be raised by the issue of those shares in order to provide the sums (or, if any part of them is to be defrayed in any other manner, the balance of the sums) required to be provided in respect of each of the following—

(i)

the purchase price of any property purchased, or to be purchased, which is to be defrayed in whole or in part out of the proceeds of the issue;

(ii)

any preliminary expenses payable by the issuer and any commission so payable to any person in consideration of his agreeing to subscribe for, or of his procuring or agreeing to procure subscriptions for, any shares in the issuer;

(iii)

the repayment of any money borrowed by the issuer in respect of any of the foregoing matters;

(iv)

working capital; and

(b)

the amounts to be provided in respect of the matters mentioned otherwise than out of the proceeds of the issue and the sources out of which those amounts are to be provided.