The Financial Services and Markets Act 2000 (Offers of Securities) Order 2001
Under section 87 of the Financial Services and Markets Act 2000 (c. 8) (“the Act”), the competent authority for the purposes of Part VI of that Act may make listing rules providing for a prospectus to be submitted to the authority for approval where securities, offered for sale for the first time in the United Kingdom, are not the subject of an application for admission to the official list. Subsection (4) of section 87 provides that this power is subject to such provision made by or under any other enactment as the Treasury may by order specify. Article 3 of this Order specifies for this purpose the provisions of the Public Offers of Securities Regulations 1995 (S.I. 1995/1537) (“the 1995 Regulations”). The effect is to replicate section 156A(2)(b) of the Financial Services Act 1986 (c. 60) (“the 1986 Act”), which was inserted by the 1995 Regulations.