Date-stamp loading
Version status: Partially deleted | Document consolidation status: Updated to reflect all known changes
Version date: 30 January 2024 - onwards
  Version 5 of 5    

87K. Power to suspend, restrict or prohibit offer to the public

(1) This section applies where a person ("the offeror") has made an offer of transferable securities to the public ("the offer").

(2) If the FCA has reasonable grounds for suspecting that an applicable provision has been infringed, it may -

(a) require the offeror to suspend the offer for a period not exceeding 10 working days;

(b) require a person not to advertise the offer, or to take such steps as the FCA may specify to suspend any existing advertisement of the offer, for a period not exceeding 10 working days.

(3) If the FCA has reasonable grounds for suspecting that it is likely that an applicable provision will be infringed, it may require the offeror to withdraw the offer.

(4) If the FCA finds that an applicable provision has been infringed, it may require the offeror to withdraw the offer.

(5) "An applicable provision" means -

(a) a provision of this Part,

(b) a provision contained in prospectus rules,

(c) any provision of, or made in accordance with, the prospectus regulation,

Comparing proposed amendment...