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—

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.