Regulation 112

Notwithstanding Regulation 12, credit institutions or other financial institutions equivalent to credit institutions within the meaning of Article 5 of Directive 89/298/EEC may continue to make public offers of debt securities or other transferable securities equivalent to debt securities issued in a continuous or repeated manner within the State up to 31 December 2008 without the need to publish a prospectus under these Regulations in circumstances where but for this Regulation they would have been obliged to publish a prospectus under these Regulations.