1. Articles 5, 6, 12 and 15 shall not apply to shares of a company admitted to trading on a trading venue in the United Kingdom where the principal venue for the trading of the shares is located in a third country.

2. Where the shares of a company are traded on a trading venue in the United Kingdom and a venue located in a third country the FCA shall determine, at least every two years, whether the principal trading venue for the trading of those shares is located in a third country.

Where the shares of a company traded on a trading venue in the United Kingdom and a venue located in a third country were included in the most recent list published by ESMA under Article 16.2 of this Regulation as it had effect before exit day, those shares are to be treated as entitled to the exemption provided for in paragraph 1 for a period of two years beginning with IP completion day.

Every 2 years the FCA shall publish the list of shares for which the principal trading venue is located in a third country. The list shall be effective for a 2-year period.