(1) This Regulation shall apply to third country issuers in respect of which the State is the Home Member State.
(2) The Bank may approve a prospectus pursuant to Part 7 for an offer of securities to the public or for admission to trading, drawn up in accordance with the legislation of the third country governing an issuer referred to in paragraph (1), provided that:
(a) the prospectus has been drawn up in accordance with international standards set by international securities commission organisations including the IOSCO disclosure standards, and
(b) the information requirements, including information of a financial nature, are equivalent to the requirements under the Directive.