(1) Regulation 7 of the Public Offers of Securities Regulations 1995 (exemptions) is amended as follows.
(2) For sub-paragraph (f)(iii) of paragraph (2) substitute -
"(iii) persons holding instruments creating or acknowledging indebtedness issued by the company;".
(3) In sub-paragraph (g) of that paragraph the words "as defined in paragraph 3 of Schedule 1 to the Act" are revoked.
(4) In sub-paragraph (n) of that paragraph for "the securities are shares, or investments falling within paragraph 4 or 5 of Schedule 1 to the Act relating to shares," substitute "the securities are -
(i) shares,
(ii) instruments giving entitlements to subscribe for shares, or
(iii) certificates representing shares,".
(5) In sub-paragraph (o)(i) [Paragraph (i) of sub-paragraph (2)(o) was amended by S.I. 1999/734, regulation 2(d). ] of regulation 7(2), for "a body corporate connected with the issuer" substitute "a member of the same group as the issuer".
(6) In sub-paragraphs (p) and (t) of regulation 7(2) for
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