For regulation 3 of the Public Offers of Securities Regulations 1995 (investments to which this Part applies) substitute -
"3. Investments to which this Part applies
(1) This Part of these Regulations applies to any investment which -
(a) is not admitted to official listing, nor is the subject of an application for listing, in accordance with Part VI of the Act; and
(b) is of a kind specified in paragraph (2).
(2) Subject to paragraphs (3) to (5) below, the kinds of investments specified for the purposes of paragraph (1)(b) are -
(a) shares, including for those purposes deferred shares of a building society, within the meaning of section 119 of the Building Societies Act 1986;
(b) instruments creating or acknowledging indebtedness;
(c) instruments giving entitlements to securities, including warrants and other instruments entitling the holder to acquire any share or instrument creating or acknowledging indebtedness; and
(d) certificates representing securities.
(3) For the purposes of
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