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Version status: Partially deleted | Document consolidation status: Updated to reflect all known changes
Version date: 30 January 2024 - onwards
  Version 15 of 15    

86. Exempt offers to the public and admissions to trading

(1) A person does not contravene section 85(1) if -

(a) [deleted]

(aa) the offer falls within Article 1(4) of the prospectus regulation; or

(b) [deleted]

(c) [deleted]

(d) [deleted]

(e) the total consideration for the transferable securities being offered in the EEA States cannot exceed 8,000,000 euros (or an equivalent amount); or

(f) [deleted]

(1A) [deleted]

(1B) [deleted]

(2) Where -

(a) a person who is not a qualified investor ("the client") has engaged a qualified investor falling within paragraph 3(a) of Schedule 1 to the markets in financial instruments regulation [Schedule 1 is inserted by S.I. 2018/1403.] to act as his agent, and

(b) the terms on which the qualified investor is engaged enable him to make decisions concerning the acceptance of offers of transferable securities on the client's behalf without reference to the client,

an offer made to or directed at the qualified investor is not to be regarded for the purposes of subsection (1) as also having been made to or direc

Comparing proposed amendment...