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Version status: Entered into force | Document consolidation status: No known changes
Version date: 23 May 2014 - onwards
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Article 1 Amendments to Directive 2003/71/EC

Directive 2003/71/EC is amended as follows:

(1) in Article 5(4), the third subparagraph is replaced by the following:

'Where the final terms of the offer are neither included in the base prospectus, nor in a supplement, they shall be made available to investors, filed with the competent authority of the home Member State, and communicated by that competent authority to the competent authority of the host Member State(s) as soon as practicable upon the making of a public offer and, where possible, before the beginning of the public offer or admission to trading. The competent authority of the home Member State shall communicate those final terms to ESMA. The final terms shall contain only information that relates to the securities note and shall not be used to supplement the base prospectus. Article 8(1) (a) shall apply in such cases.';

(2) in Article 11, paragraph 3 is replaced by the following:

'3. In order to ensure consistent harmonisation in relation to this Article, ESMA shall dev

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