1. This Regulation lays down requirements for the drawing up, approval and distribution of the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market situated or operating within the United Kingdom.
2. This Regulation shall not apply to the following types of securities:
(a) units issued by collective investment undertakings other than the closed-end type;
(b) non-equity securities issued by -
(i) the government of any country or territory,
(ii) a local or regional authority of any country or territory,
(iii) a public international body of which any state is a member,
(iv) the European Central Bank or the central bank of any state;
(c) shares in the capital of central banks of any state;
(d) securities unconditionally and irrevocably guaranteed by the government or a local or regional authority of any country or territory;
(e) securities issued by associations with legal status or non-profit-making bodies, recognised by a state
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