Regulation 21 Exclusion of large debt securities issuer from definition of “UK-traded third country company”F6
A large debt securities issuer is excluded from the definition of “F1UK-traded third country company” for the purposes of Part 42 of the Act.
In paragraph (1) “large debt securities issuer” means a body corporate whose only issued transferable securities admitted to trading on a F2UK regulated market are debt securities, the denomination per unit of which is not less than—
F3£35,000 or an equivalent amount, in the case of securities admitted to trading on a UK regulated market before 31st December 2010,
F4£70,000 or an equivalent amount, in the case of securities admitted to trading on a UK regulated market on or after 31st December 2010.
In paragraph (2)—
“an equivalent amount” means an amount of a currency other than F5pounds Sterling which at the date the security was issued was equivalent to the relevant amount of pounds Sterling; and
“debt securities” has the same meaning as in Article 2(1)(b) of Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/43/EC.
Regulation 43 of the Statutory Auditors and Third Country Auditors Regulations 2007 M1 is revoked.
Annotations
Textual amendments
- F1
Words in reg. 21(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(b); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in reg. 21(2) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(c); 2020 c. 1, Sch. 5 para. 1(1)
- F3
Sum in reg. 21(2)(a) substituted (11.5.2025) by The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (S.I. 2025/439), regs. 1(2), 14(6)(a)
- F4
Sum in reg. 21(2)(b) substituted (11.5.2025) by The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (S.I. 2025/439), regs. 1(2), 14(6)(b)
- F5
Words in reg. 21(3) substituted (11.5.2025) by The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (S.I. 2025/439), regs. 1(2), 14(6)(c)
- F6
Words in reg. 21 heading substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 72(a); 2020 c. 1, Sch. 5 para. 1(1)
Marginal citations
- M1