Citation and commencement

1. This Order may be cited as the Financial Services and Markets Act 2000 (Offers of Securities) Order 2001 and comes into force on the day on which section 74(1) comes into force.

Interpretation

2. —(1) In this Order—

“the Act” means the Financial Services and Markets Act 2000;

“the Public Offers of Securities Regulations” means the Public Offers of Securities Regulations 1995( 2 ); and

“the Regulated Activities Order” means the Financial Services and Markets Act 2001 (Regulated Activities) Order 2001( 3 ).

(2) Any reference in this Order to a section or Schedule is, unless otherwise stated or unless the context otherwise requires, a reference to that section of or Schedule to the Act.

Listing rules about non-listing prospectuses

3. For the purposes of section 87(4) there are specified, as provisions to which the power of the competent authority to make listing rules about the timing and manner of publication of a non-listing prospectus is subject, the provisions of the Public Offers of Securities Regulations.

Public authorities

4. For the purposes of paragraphs 8(2)(e) and 23(2)(e) of Schedule 11 (bodies which are included within the category of “public authority”) there are specified the following bodies—

(a) the National Assembly for Wales;

(b) a Northern Ireland department; and

(c) the Scottish Administration.

Exchange of shares

5. For the purposes of paragraph 15 of Schedule 11 (exchange of shares) there are specified the following kinds of investments relating to shares—

(a) any investment of the kind specified by article 79 of the Regulated Activities Order (instruments giving entitlements to investments) insofar as relating to investments of the kind specified by article 76 of that Order (shares); and

(b) any investment of the kind specified by article 80 of the Regulated Activities Order (certificates representing securities) insofar as relating to investments of the kind specified by article 76 of that Order (shares).

Convertible securities

6. —(1) For the purposes of paragraph 17(1) of Schedule 11 (convertible securities) there are specified the provisions of—

(a) Part III of the Companies Act 1985( 4 ); and

(b) the Public Offers of Securities Regulations.

(2) For the purposes of paragraph 17(2) of Schedule 11 (convertible securities) there is specified any security which is—

(a) an investment of the kind specified by article 77 of the Regulated Activities Order (instruments creating or acknowledging indebtedness);

(b) an investment of the kind specified by article 79 of the Regulated Activities Order (instruments giving entitlements to investments) insofar as relating to investments of the kind specified by article 76 of that Order (shares); or

(c) an investment of the kind specified by article 80 of the Regulated Activities Order (certificates representing securities) insofar as relating to investments of the kind specified by article 76 of that Order (shares).

(3) For the purposes of paragraph 2(b) and (c) above, paragraph (3) of article 76 of the Regulated Activities Order (exclusion relating to building societies, industrial and provident societies, credit unions, and equivalent bodies in other EEA States) is to be disregarded.

Same class securities

7. For the purposes of paragraph 21 of Schedule 11 (same class securities) there are specified the provisions of the Public Offers of Securities Regulations.

Short date securities

8. For the purposes of paragraph 22 of Schedule 11 (short date securities) there are specified investments of the kind specified by article 77 of the Regulated Activities Order (instruments creating or acknowledging indebtedness).

Government securities

9. For the purposes of paragraph 23(1) of Schedule 11 (Government and public securities) there are specified the following kinds of investments, namely loan stock, bonds and other instruments.

Shares

10. For the purposes of paragraph 25 of Schedule 11 (definition of shares) “shares” means any investment of the kind specified by article 76 of the Regulated Activities Order (shares).