Page can be viewed in other languages:
English
Home Home Contact Us Contact Us Incorporation FAQ FAQ Incorporation News News

  • Office
  • Address
  • Contact
RELATED SERVICES
BANKING SERVICES
WE ACCEPT
 
 
Acceptance Mark
Secured by SSL

Member of the Federation of Small Businesses
E-mail us info@ukincorp.co.uk Request a call-back Call Us (UK): 44 (0) 207.935.5171 / 0330.808.0089
testing
  1. E-quick package
  2. Economy package
  3. Premier package
  4. Deluxe package
If you are thinking about setting up a business, and need it done quickly and easily with no additional requirements, then this package is the perfect choice.
This package is a cheap and efficient way to begin business, and includes the provision of a registered office address in London for the duration of one year.
This package is a not expensive and efficient way to begin business, and includes the provision of a registered office address in London and a nominee secretary for the duration of one year.
This package is one of the most cost effective and the efficient way to start a UK company, which includes a registered office address in London, a nominee secretary, and a nominee director for the duration of one year.
E-quick*
£32.00
Economy
£82.00
Premier
£207.00
Deluxe
£557.00
Private company limited by shares
No Annual Charges
Private company limited by shares
Annual Fee From: £50.00
Private company limited by shares
Annual Fee From: £175.00
Private company limited by shares
Annual Fee From: £525.00
Usefull links
Further information

Private Company Limited by Shares:

  • A private company limited by shares in England and Wales must have at least one director, one shareholder, and may have a secretary.

  • You need at least one person to form this type of company. If there is only one director, and that director is a natural person in your company, that director can also act as the secretary.

  • A company must have at least one director who is a natural person. This requirement is met if the office of director is held by a natural person as a corporation sole or otherwise by virtue of an office.

  • You can register a sole director' company, if you are familiar with the secretaries duties and responsibilities, because all of them belongs to a sole director.

  • The directors and secretary of your company can also be shareholders.

  • The Companies Act imposes no restriction on the minimum age of company directors. However Companies House will actively discourage the appointment of anyone under the age of 16 from taking up a company directorship on the grounds that the individuals concerned may not fully understand the legal liabilities that go with the position and for the most part will not have the experience necessary to perform the duties of a company director.

  • Under the Companies Act 2006, there is no restriction on any or all of the members/shareholders being from an overseas country (i.e. outside the United Kingdom in terms of residency, domicile, citizenship, place of incorporation or all or any of those concepts).

  • There is no requirement for the officers of your company to be UK citizens or residents, nor for them to hold valid work permits.

  • Owning, or being an officer of a UK company does not, however, grant you any right to live or work in the UK if you are a foreign national.

  • Your company must have a registered office address within England or Wales; this is the official address of your company and will be on the public record as such.

  • Your company must hold its official company documents at its registered office address: its register of shareholders, and its constitutional documents.

  • So long as you maintain a registered office address in England or Wales, you can conduct your business from any place in the world: you do not have to run your business from your registered office address.

  • Coddan offers company formation, ready-made company registration for UK limited companies. We offer electronic filing enterprises & registering corporation services. In addition to business registrations, we offer trademark registration, shareholder agreements, toll-free numbers, telephone answering, virtual office and company searches for UK limited companies. You are an accountant for whom company establishment is a frequent activity or an individual ordering your first company registrations. Start a company by incorporating or forming a LTD, PLC or LLP at Coddan. Learn about incorporation & how to incorporate your business online: register a business name, company registration, business registration numbers, company house web filing - business name registration check. Whether you start-up online, register London business or form a corporation Scotland, we can help you understand the business start-up process for filing LTD United Kingdom.
    Previous
    Next
    Incorporate or form an LLC – online: company registrar United Kingdom, limited company formations & corporation registration, electronically LLC online, very easy and informative. In addition to private companies Great Britain, we offer trademark registration, shareholder agreements, 0870 numbers, telephone answering, virtual office and company searches for English companies. Information to help start, grow or manage a small business. If you are starting a business Edinburgh or starting own business Northern Ireland, read our starting business Republic of Ireland guide. Home business and small business training and ideas site to help you start Belfast, grow, and expand a home-based business or search for the work at home job right. An outline of the general steps for incorporation in Great Britain, explaining how to incorporate your business Dublin, from choosing where to incorporate your business. UK ready-made company formation services and company registrations online, our offices keep a stock of ready made companies, and would be happy to supply details on request. We offer offshore ready-made companies in different jurisdictions, readymade offshore companies also called as offshore shelf companies, shelf off-shore companies for sale: starting applying for a business name, business name registration partnership, grants for starting a business and starting a business from home.
    Previous
    Next
    Open company same-day and offshore setting-up services using our online starting-up service for Limited Liability Company Offshore companies. Start enjoying the tax benefits and personal liability protection that forming a corporation or Limited Liability Company (LLC) provides. Offshore company incorporation, offshore checking and offshore saving accounts, offshore time deposits, offshore mutual funds, offshore money market accounts and offshore asset protection provided by Coddan. Company formations, limited company formations, electronic incorporations, company formation agents, paperless company registrar, electronic companies filing, United Kingdom limited company, setting corporation Ireland, business incorporation Scotland, open company England, London company registration, electronic companies filing, British companies registrars, business consultants, company law, public limited company, plc, international companies, ltd, inc, limited liability, enterprise, organization, organization, tax, taxation, England, firm, partnership, trade, profession, contractors, business, private limited company, limited by shares, ready-made companies, readymade company, aged company, off the shelf company, shelf companies list.
    Previous
    Next
    Specializes in company registration and secretarial services. Provides list of shelf company, services and cost quotation, business name registration, company house direct, starting a business - sole trader business registration.

    This is actually a pretty good reason to incorporate in Delaware or Nevada. In fact, you could be a foreigner from Lebanon, never setting foot on American soil, form a Delaware corporation and no one would know who you are! However, many states will require the owners and/or officers and/or directors information while operating in that state (as a foreign corp.). Besides, how many small businesses require anonymity? Incorporate, incorporation, incorporating, incorporation services, incorporating services, incorporate Wyoming business online, incorporating Oregon business, New York LLC formation, Louisiana limited liability corporation, Texas articles of incorporation, Florida company incorporation, California non profit corporation, corporate name search offshore, BVI corporate name availability, Seychelles corporate name registration.
    Previous
    Next
    Learn about incorporation services UK and incorporate London online: starting your own business, business ideas, starting a business on ebay or buying a business with legal requirements for starting a business. Online England company formations, online company London W1 formation, Glasgow formation agent, Liverpool formations agent, Scottish companies house, forming a company Scotland, starting a business Wales, form a limited company Oxford, United Kingdom business registration agents, online Great Britain company registration. E-Business, small business, business structures defined: the limited liability company business structures defined: the limited liability company IRS treatment of the one-member LLC. An LLC with only one member / owner is automatically considered to be a sole proprietorship unless an election is made to be treated as a corporation. Thus, the sole member of an LLC will file (Form 1040), (U.S. Individual Income Tax Return), ideas for starting a business, grants for starting a business, starting a business from home, starting your own business - business ideas, starting a business on ebay, buying a business: legal requirements for starting a business, ideas for starting a business.
    Previous
    Next
    A business may be conducted by a company as an entity in its own right and comes into existence by incorporation under companies legislation which also regulates the running of the company and sets out the duties of its officers. In recent years trading trusts have been commonly used as the structure for carrying on a business with their main objective of tax minimization. A trust requires a trustee to act on behalf of a trust and it has been preferable to have a company newly incorporated to act as the trustee as it is believed that this limits the liability of the trust to the paid-up capital of the Trustee Company. A trust is formed by a gift or settlement being made to the trustee on behalf of the, as yet unformed, trust. A solicitor draws up a Trust Deed setting out the powers and formalizing the administration of the trust. The trust has beneficiaries rather than shareholders as in a company, who are entitled to distributions of capital and/or income and these distributions, are controlled by the trustee.
    Previous
    Next
    The distribution made to beneficiaries are subject to income tax as part of their personal income and are liable for provisional tax on these distributions. Citizens and residents of other countries may incorporate in the United Kingdom through the standard incorporation procedures set forth by each state. Provides UK company formations, trademark registration, registered office facilities and company secretary services. Professional company formation, register your company online, we may establish new business at one day. An online guide to starting up and expanding your business.
    Previous
    Next

    This is one of our most popular packages with worldwide customers, and includes: -

  • EQUICK-4 zvezdy :-****
  • Pomeniat' sro4no. Eto economy4 zvezdy. -

  • ECooonooomyy-4 zvezdy :-****
  • Premier blablabla 4 zvezdy. -

  • premier-4 zvezdy;)
  • Our Deluxe package is a fast and easy option, it is ideal for the UK, EU, and international small to medium businesses who wish to appoint a nominee director and a nominee secretary in order to maintain the anonymity of the real owner, and it includes: -

  • Incorporation of your company from scratch using one of our registered office addresses in London, our nominee director and nominee secretary. We can appoint your own candidate(s) to the role of shareholder(s), or you can appoint a nominee sharholder provided by Coddan;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is included in the price of this package (our nominee secretary service is charged annually);
    • The provision of a nominee director for 12 months is also included in the price of this package (our nominee director service is charged annually);

    The following two hard bound copies of corporate documents, will be send by post to you upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register;
  • The general power of attorney signed by a nominee director;
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of nominee service and indemnification of nominee.
  • 2 zdezda deluxe. -

  • 2 zdezda deluxe)
  • 3 zdezda deluxe. -

  • 3 zdezda deluxe
  • 4 zdezda deluxe -

  • 4444444
  • This is our most popular package with the UK residents, and includes: -

  • The registration of your company from scratch using your own registered office address, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
  • The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • *If you do not have an a valid address in the UK, which can be used as the registered office address for your company, please check our Economy package. The non-UK address cannot be acceptable as the office address for the UK company.

    This is our most popular package with the UK and EU residents, and includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is also included in the price of this package (our registered office address service is charged annually);

    The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a members;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • An original certificate of incorporation
  • A hard bound copy of the memorandum & articles of association
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • The general power of attorney signed by a nominee director (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The registration your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint our own candidates to the role of a nominee director and a nominee member;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for one year are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for 12 months is included in the price of this package (our nominee director service is charged annually);
  • A completed register of directors and members
  • The provision of a nominee member for 12 months is also included in the price of this package (our nominee member service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • Pre-signed, undated letters of resignation from a nominee director and a nominee member;
  • A general power of attorney signed by a nominee director (additional fee applies);
  • A declaration of trust from a nominee member;
  • An indemnity letter for the power of attorney;
  • A nominee agreement which provides for the indemnification of the nominees.
  • This is another one of our most popular packages for small and medium size businesses, such as those being run by a sole director from home, and for companies owned by overseas residents who still need a local registered office address, but would rather not open a local office in the UK;

    This package is often chosen by such customers, who are looking to minimise a sole director' personal liability (and who are not quite familiar with the UK corporate legislation), because this package includes thye provision of a nominee secretary for 12 months. This package is also includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is also included in the price of this package (our nominee secretary service is charged annually);

    The following hard bound copy of the corporate documents, will be send by post to you, upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register.
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a limited partnership usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI offshore limited partnership from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a general partner;
  • The government and initiation fees for registration are included in the price of this package;
  • The search for a limited partnership name availability, confirmation, and reservation;
  • The preparation and submission of the partnership agreement;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee limited partner for one year is also included in the price of this package (our nominee limited partner service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -

  • An original certificate of incorporation;
  • A hard bound copy of the partnership agreement;
  • The minutes of the first meeting of the board of partners;
  • A completed register of partners;
  • An elegant printed membership certificates;
  • A pliers seal;
  • The general power of attorney signed by a nominee limited partner (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee limited partner;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

    This is our most popular package with international customers, and includes: -

    Page 1 of 7
    Page 2 of 7
    Page 3 of 7
    Page 4 of 7
    Page 5 of 7
    Page 6 of 7
    Page 7 of 7
    Organization Structures Business, Incorporate Your Business Online, Incorporation Services at Affordable Prices, Learn About Incorporating and How to IncorporateSetting up a Business in United Kingdom, Incorporatin Business, Forming an LLC, Incorporate online in Delaware, Nevada, London, Florida, New YorkCompany UK Formation, Online UK Company Formation Agents, Plus a Wide Range of Ready-Made Companies Available and Vintage CompaniesWhat are the Advantages of Incorporation? You Can Now Form Your UK Limited Company Online Using Our Company Registration AgentHow Do I Get Started With the Registration Process? Company Formation & Registration of Offshore Companies Incorporation ServiceUK Limited Company Formation and Offshore Companies Incorporation Service, We Provide Online New Company Formations and Offshore Readymade CorporationSetting up a Business in United Kingdom, Cheap IBC Incorporation Offshore Anonymous Banking Internet Offshore Bank AccountUK Company Formation, Online Company Registration Agent Offering Same-Day Company Formation, Business BankingServices Include Companies Formation and Administration, Trademark, Intellectual Property, Company Search ServicesAn On-Line Resource to Setting-Up a Private Limited Company Without Hiring a Solicitor or Formation AgenStarting a Business Information, Advice and Information for Starting a New Business in the UK Including UK Business Start-UpHelp in Starting Up a Business Up-to-Date Advice and Strategies, Start Your Own Business and Gain Your Independence!Incorporate a Business in Any State, London, Glasgow, Form an LLC, Conduct a Trademark Search OnlineSmall Business Resources for Starting a Small Business, Small Business Marketing
    Financial Services and Markets Act 2000
    2000 Chapter c.8 - continued

    back to previous text
     
     PART VI
     OFFICIAL LISTING
     
    The competent authority
    The competent authority.    72. - (1) On the coming into force of this section, the functions conferred on the competent authority by this Part are to be exercised by the Authority.
     
         (2) Schedule 7 modifies this Act in its application to the Authority when it acts as the competent authority.
     
         (3) But provision is made by Schedule 8 allowing some or all of those functions to be transferred by the Treasury so as to be exercisable by another person.
     
    General duty of the competent authority.    73. - (1) In discharging its general functions the competent authority must have regard to-
     
     
      (a) the need to use its resources in the most efficient and economic way;
     
      (b) the principle that a burden or restriction which is imposed on a person should be proportionate to the benefits, considered in general terms, which are expected to arise from the imposition of that burden or restriction;
     
      (c) the desirability of facilitating innovation in respect of listed securities;
     
      (d) the international character of capital markets and the desirability of maintaining the competitive position of the United Kingdom;
     
      (e) the need to minimise the adverse effects on competition of anything done in the discharge of those functions;
     
      (f) the desirability of facilitating competition in relation to listed securities.
         (2) The competent authority's general functions are-
     
     
      (a) its function of making rules under this Part (considered as a whole);
     
      (b) its functions in relation to the giving of general guidance in relation to this Part (considered as a whole);
     
      (c) its function of determining the general policy and principles by reference to which it performs particular functions under this Part.
     
    The official list
    The official list.    74. - (1) The competent authority must maintain the official list.
     
         (2) The competent authority may admit to the official list such securities and other things as it considers appropriate.
     
         (3) But-
     
     
      (a) nothing may be admitted to the official list except in accordance with this Part; and
     
      (b) the Treasury may by order provide that anything which falls within a description or category specified in the order may not be admitted to the official list.
         (4) The competent authority may make rules ("listing rules") for the purposes of this Part.
     
         (5) In the following provisions of this Part-
     
     
      "security" means anything which has been, or may be, admitted to the official list; and
     
      "listing" means being included in the official list in accordance with this Part.
     
    Listing
    Applications for listing.    75. - (1) Admission to the official list may be granted only on an application made to the competent authority in such manner as may be required by listing rules.
     
         (2) No application for listing may be entertained by the competent authority unless it is made by, or with the consent of, the issuer of the securities concerned.
     
         (3) No application for listing may be entertained by the competent authority in respect of securities which are to be issued by a body of a prescribed kind.
     
         (4) The competent authority may not grant an application for listing unless it is satisfied that-
     
     
      (a) the requirements of listing rules (so far as they apply to the application), and
     
      (b) any other requirements imposed by the authority in relation to the application,
     are complied with.
     
         (5) An application for listing may be refused if, for a reason relating to the issuer, the competent authority considers that granting it would be detrimental to the interests of investors.
     
         (6) An application for listing securities which are already officially listed in another EEA State may be refused if the issuer has failed to comply with any obligations to which he is subject as a result of that listing.
     
    Decision on application.    76. - (1) The competent authority must notify the applicant of its decision on an application for listing-
     
     
      (a) before the end of the period of six months beginning with the date on which the application is received; or
     
      (b) if within that period the authority has required the applicant to provide further information in connection with the application, before the end of the period of six months beginning with the date on which that information is provided.
         (2) If the competent authority fails to comply with subsection (1), it is to be taken to have decided to refuse the application.
     
         (3) If the competent authority decides to grant an application for listing, it must give the applicant written notice.
     
         (4) If the competent authority proposes to refuse an application for listing, it must give the applicant a warning notice.
     
         (5) If the competent authority decides to refuse an application for listing, it must give the applicant a decision notice.
     
         (6) If the competent authority decides to refuse an application for listing, the applicant may refer the matter to the Tribunal.
     
         (7) If securities are admitted to the official list, their admission may not be called in question on the ground that any requirement or condition for their admission has not been complied with.
     
    Discontinuance and suspension of listing.    77. - (1) The competent authority may, in accordance with listing rules, discontinue the listing of any securities if satisfied that there are special circumstances which preclude normal regular dealings in them.
     
         (2) The competent authority may, in accordance with listing rules, suspend the listing of any securities.
     
         (3) If securities are suspended under subsection (2) they are to be treated, for the purposes of sections 96 and 99, as still being listed.
     
         (4) This section applies to securities whenever they were admitted to the official list.
     
         (5) If the competent authority discontinues or suspends the listing of any securities, the issuer may refer the matter to the Tribunal.
     
    Discontinuance or suspension: procedure.    78. - (1) A discontinuance or suspension takes effect-
     
     
      (a) immediately, if the notice under subsection (2) states that that is the case;
     
      (b) in any other case, on such date as may be specified in that notice.
         (2) If the competent authority-
     
     
      (a) proposes to discontinue or suspend the listing of securities, or
     
      (b) discontinues or suspends the listing of securities with immediate effect,
     it must give the issuer of the securities written notice.
     
         (3) The notice must-
     
     
      (a) give details of the discontinuance or suspension;
     
      (b) state the competent authority's reasons for the discontinuance or suspension and for choosing the date on which it took effect or takes effect;
     
      (c) inform the issuer of the securities that he may make representations to the competent authority within such period as may be specified in the notice (whether or not he has referred the matter to the Tribunal);
     
      (d) inform him of the date on which the discontinuance or suspension took effect or will take effect; and
     
      (e) inform him of his right to refer the matter to the Tribunal.
         (4) The competent authority may extend the period within which representations may be made to it.
     
         (5) If, having considered any representations made by the issuer of the securities, the competent authority decides-
     
     
      (a) to discontinue or suspend the listing of the securities, or
     
      (b) if the discontinuance or suspension has taken effect, not to cancel it,
     the competent authority must give the issuer of the securities written notice.
     
         (6) A notice given under subsection (5) must inform the issuer of the securities of his right to refer the matter to the Tribunal.
     
         (7) If a notice informs a person of his right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.
     
         (8) If the competent authority decides-
     
     
      (a) not to discontinue or suspend the listing of the securities, or
     
      (b) if the discontinuance or suspension has taken effect, to cancel it,
     the competent authority must give the issuer of the securities written notice.
     
         (9) The effect of cancelling a discontinuance is that the securities concerned are to be readmitted, without more, to the official list.
     
         (10) If the competent authority has suspended the listing of securities and proposes to refuse an application by the issuer of the securities for the cancellation of the suspension, it must give him a warning notice.
     
         (11) The competent authority must, having considered any representations made in response to the warning notice-
     
     
      (a) if it decides to refuse the application, give the issuer of the securities a decision notice;
     
      (b) if it grants the application, give him written notice of its decision.
         (12) If the competent authority decides to refuse an application for the cancellation of the suspension of listed securities, the applicant may refer the matter to the Tribunal.
     
         (13) "Discontinuance" means a discontinuance of listing under section 77(1).
     
         (14) "Suspension" means a suspension of listing under section 77(2).
     
     
    Listing particulars
    Listing particulars and other documents.    79. - (1) Listing rules may provide that securities (other than new securities) of a kind specified in the rules may not be admitted to the official list unless-
     
     
      (a) listing particulars have been submitted to, and approved by, the competent authority and published; or
     
      (b) in such cases as may be specified by listing rules, such document (other than listing particulars or a prospectus of a kind required by listing rules) as may be so specified has been published.
         (2) "Listing particulars" means a document in such form and containing such information as may be specified in listing rules.
     
         (3) For the purposes of this Part, the persons responsible for listing particulars are to be determined in accordance with regulations made by the Treasury.
     
         (4) Nothing in this section affects the competent authority's general power to make listing rules.
     
    General duty of disclosure in listing particulars.    80. - (1) Listing particulars submitted to the competent authority under section 79 must contain all such information as investors and their professional advisers would reasonably require, and reasonably expect to find there, for the purpose of making an informed assessment of-
     
     
      (a) the assets and liabilities, financial position, profits and losses, and prospects of the issuer of the securities; and
     
      (b) the rights attaching to the securities.
         (2) That information is required in addition to any information required by-
     
     
      (a) listing rules, or
     
      (b) the competent authority,
     as a condition of the admission of the securities to the official list.
     
         (3) Subsection (1) applies only to information-
     
     
      (a) within the knowledge of any person responsible for the listing particulars; or
     
      (b) which it would be reasonable for him to obtain by making enquiries.
         (4) In determining what information subsection (1) requires to be included in listing particulars, regard must be had (in particular) to-
     
     
      (a) the nature of the securities and their issuer;
     
      (b) the nature of the persons likely to consider acquiring them;
     
      (c) the fact that certain matters may reasonably be expected to be within the knowledge of professional advisers of a kind which persons likely to acquire the securities may reasonably be expected to consult; and
     
      (d) any information available to investors or their professional advisers as a result of requirements imposed on the issuer of the securities by a recognised investment exchange, by listing rules or by or under any other enactment.
    Supplementary listing particulars.    81. - (1) If at any time after the preparation of listing particulars which have been submitted to the competent authority under section 79 and before the commencement of dealings in the securities concerned following their admission to the official list-
     
     
      (a) there is a significant change affecting any matter contained in those particulars the inclusion of which was required by-
     
        (i) section 80,
     
        (ii) listing rules, or
     
        (iii) the competent authority, or
     
      (b) a significant new matter arises, the inclusion of information in respect of which would have been so required if it had arisen when the particulars were prepared,
     the issuer must, in accordance with listing rules, submit supplementary listing particulars of the change or new matter to the competent authority, for its approval and, if they are approved, publish them.
     
         (2) "Significant" means significant for the purpose of making an informed assessment of the kind mentioned in section 80(1).
     
         (3) If the issuer of the securities is not aware of the change or new matter in question, he is not under a duty to comply with subsection (1) unless he is notified of the change or new matter by a person responsible for the listing particulars.
     
         (4) But it is the duty of any person responsible for those particulars who is aware of such a change or new matter to give notice of it to the issuer.
     
         (5) Subsection (1) applies also as respects matters contained in any supplementary listing particulars previously published under this section in respect of the securities in question.
     
    Exemptions from disclosure.    82. - (1) The competent authority may authorise the omission from listing particulars of any information, the inclusion of which would otherwise be required by section 80 or 81, on the ground-
     
     
      (a) that its disclosure would be contrary to the public interest;
     
      (b) that its disclosure would be seriously detrimental to the issuer; or
     
      (c) in the case of securities of a kind specified in listing rules, that its disclosure is unnecessary for persons of the kind who may be expected normally to buy or deal in securities of that kind.
         (2) But-
     
     
      (a) no authority may be granted under subsection (1)(b) in respect of essential information; and
     
      (b) no authority granted under subsection (1)(b) extends to any such information.
         (3) The Secretary of State or the Treasury may issue a certificate to the effect that the disclosure of any information (including information that would otherwise have to be included in listing particulars for which they are themselves responsible) would be contrary to the public interest.
     
         (4) The competent authority is entitled to act on any such certificate in exercising its powers under subsection (1)(a).
     
         (5) This section does not affect any powers of the competent authority under listing rules made as a result of section 101(2).
     
         (6) "Essential information" means information which a person considering acquiring securities of the kind in question would be likely to need in order not to be misled about any facts which it is essential for him to know in order to make an informed assessment.
     
         (7) "Listing particulars" includes supplementary listing particulars.
     
    Registration of listing particulars.    83. - (1) On or before the date on which listing particulars are published as required by listing rules, a copy of the particulars must be delivered for registration to the registrar of companies.
     
         (2) A statement that a copy has been delivered to the registrar must be included in the listing particulars when they are published.
     
         (3) If there has been a failure to comply with subsection (1) in relation to listing particulars which have been published-
     
     
      (a) the issuer of the securities in question, and
     
      (b) any person who is a party to the publication and aware of the failure,
     is guilty of an offence.
     
         (4) A person guilty of an offence under subsection (3) is liable-
     
     
      (a) on summary conviction, to a fine not exceeding the statutory maximum;
     
      (b) on conviction on indictment, to a fine.
         (5) "Listing particulars" includes supplementary listing particulars.
     
         (6) "The registrar of companies" means-
     
     
      (a) if the securities are, or are to be, issued by a company incorporated in Great Britain whose registered office is in England and Wales, the registrar of companies in England and Wales;
     
      (b) if the securities are, or are to be, issued by a company incorporated in Great Britain whose registered office is in Scotland, the registrar of companies in Scotland;
     
      (c) if the securities are, or are to be, issued by a company incorporated in Northern Ireland, the registrar of companies for Northern Ireland; and
     
      (d) in any other case, any of those registrars.
     
    Prospectuses
    Prospectuses.    84. - (1) Listing rules must provide that no new securities for which an application for listing has been made may be admitted to the official list unless a prospectus has been submitted to, and approved by, the competent authority and published.
     
         (2) "New securities" means securities which are to be offered to the public in the United Kingdom for the first time before admission to the official list.
     
         (3) "Prospectus" means a prospectus in such form and containing such information as may be specified in listing rules.
     
         (4) Nothing in this section affects the competent authority's general power to make listing rules.
     
    Publication of prospectus.    85. - (1) If listing rules made under section 84 require a prospectus to be published before particular new securities are admitted to the official list, it is unlawful for any of those securities to be offered to the public in the United Kingdom before the required prospectus is published.
     
         (2) A person who contravenes subsection (1) is guilty of an offence and liable-
     
     
      (a) on summary conviction, to imprisonment for a term not exceeding three months or a fine not exceeding level 5 on the standard scale;
     
      (b) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine, or both.
         (3) A person is not to be regarded as contravening subsection (1) merely because a prospectus does not fully comply with the requirements of listing rules as to its form or content.
     
         (4) But subsection (3) does not affect the question whether any person is liable to pay compensation under section 90.
     
         (5) Any contravention of subsection (1) is actionable, at the suit of a person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.
     
    Application of this Part to prospectuses.    86. - (1) The provisions of this Part apply in relation to a prospectus required by listing rules as they apply in relation to listing particulars.
     
         (2) In this Part-
     
     
      (a) any reference to listing particulars is to be read as including a reference to a prospectus; and
     
      (b) any reference to supplementary listing particulars is to be read as including a reference to a supplementary prospectus.
    Approval of prospectus where no application for listing.    87. - (1) Listing rules may provide for a prospectus to be submitted to and approved by the competent authority if-
     
     
      (a) securities are to be offered to the public in the United Kingdom for the first time;
     
      (b) no application for listing of the securities has been made under this Part; and
     
      (c) the prospectus is submitted by, or with the consent of, the issuer of the securities.
         (2) "Non-listing prospectus" means a prospectus submitted to the competent authority as a result of any listing rules made under subsection (1).
     
         (3) Listing rules made under subsection (1) may make provision-
     
     
      (a) as to the information to be contained in, and the form of, a non-listing prospectus; and
     
      (b) as to the timing and manner of publication of a non-listing prospectus.
         (4) The power conferred by subsection (3)(b) is subject to such provision made by or under any other enactment as the Treasury may by order specify.
     
         (5) Schedule 9 modifies provisions of this Part as they apply in relation to non-listing prospectuses.
     
     
    Sponsors
    Sponsors.    88. - (1) Listing rules may require a person to make arrangements with a sponsor for the performance by the sponsor of such services in relation to him as may be specified in the rules.
     
         (2) "Sponsor" means a person approved by the competent authority for the purposes of the rules.
     
         (3) Listing rules made by virtue of subsection (1) may-
     
     
      (a) provide for the competent authority to maintain a list of sponsors;
     
      (b) specify services which must be performed by a sponsor;
     
      (c) impose requirements on a sponsor in relation to the provision of services or specified services;
     
      (d) specify the circumstances in which a person is qualified for being approved as a sponsor.
         (4) If the competent authority proposes-
     
     
      (a) to refuse a person's application for approval as a sponsor, or
     
      (b) to cancel a person's approval as a sponsor,
     it must give him a warning notice.
     
         (5) If, after considering any representations made in response to the warning notice, the competent authority decides-
     
     
      (a) to grant the application for approval, or
     
      (b) not to cancel the approval,
     it must give the person concerned, and any person to whom a copy of the warning notice was given, written notice of its decision.
     
         (6) If, after considering any representations made in response to the warning notice, the competent authority decides-
     
     
      (a) to refuse to grant the application for approval, or
     
      (b) to cancel the approval,
     it must give the person concerned a decision notice.
     
         (7) A person to whom a decision notice is given under this section may refer the matter to the Tribunal.
     
    Public censure of sponsor.    89. - (1) Listing rules may make provision for the competent authority, if it considers that a sponsor has contravened a requirement imposed on him by rules made as a result of section 88(3)(c), to publish a statement to that effect.
     
         (2) If the competent authority proposes to publish a statement it must give the sponsor a warning notice setting out the terms of the proposed statement.
     
         (3) If, after considering any representations made in response to the warning notice, the competent authority decides to make the proposed statement, it must give the sponsor a decision notice setting out the terms of the statement.
     
         (4) A sponsor to whom a decision notice is given under this section may refer the matter to the Tribunal.
     
     
    Compensation
    Compensation for false or misleading particulars.    90. - (1) Any person responsible for listing particulars is liable to pay compensation to a person who has-
     
     
      (a) acquired securities to which the particulars apply; and
     
      (b) suffered loss in respect of them as a result of-
     
        (i) any untrue or misleading statement in the particulars; or
     
        (ii) the omission from the particulars of any matter required to be included by section 80 or 81.
         (2) Subsection (1) is subject to exemptions provided by Schedule 10.
     
         (3) If listing particulars are required to include information about the absence of a particular matter, the omission from the particulars of that information is to be treated as a statement in the listing particulars that there is no such matter.
     
         (4) Any person who fails to comply with section 81 is liable to pay compensation to any person who has-
     
     
      (a) acquired securities of the kind in question; and
     
      (b) suffered loss in respect of them as a result of the failure.
         (5) Subsection (4) is subject to exemptions provided by Schedule 10.
     
         (6) This section does not affect any liability which may be incurred apart from this section.
     
         (7) References in this section to the acquisition by a person of securities include references to his contracting to acquire them or any interest in them.
     
         (8) No person shall, by reason of being a promoter of a company or otherwise, incur any liability for failing to disclose information which he would not be required to disclose in listing particulars in respect of a company's securities-
     
     
      (a) if he were responsible for those particulars; or
     
      (b) if he is responsible for them, which he is entitled to omit by virtue of section 82.
         (9) The reference in subsection (8) to a person incurring liability includes a reference to any other person being entitled as against that person to be granted any civil remedy or to rescind or repudiate an agreement.
     
         (10) "Listing particulars", in subsection (1) and Schedule 10, includes supplementary listing particulars.
     
     
    Penalties
    Penalties for breach of listing rules.    91. - (1) If the competent authority considers that-
     
     
      (a) an issuer of listed securities, or
     
      (b) an applicant for listing,
     has contravened any provision of listing rules, it may impose on him a penalty of such amount as it considers appropriate.
     
         (2) If, in such a case, the competent authority considers that a person who was at the material time a director of the issuer or applicant was knowingly concerned in the contravention, it may impose on him a penalty of such amount as it considers appropriate.
     
         (3) If the competent authority is entitled to impose a penalty on a person under this section in respect of a particular matter it may, instead of imposing a penalty on him in respect of that matter, publish a statement censuring him.
     
         (4) Nothing in this section prevents the competent authority from taking any other steps which it has power to take under this Part.
     
         (5) A penalty under this section is payable to the competent authority.
     
         (6) The competent authority may not take action against a person under this section after the end of the period of two years beginning with the first day on which it knew of the contravention unless proceedings against that person, in respect of the contravention, were begun before the end of that period.
     
         (7) For the purposes of subsection (6)-
     
     
      (a) the competent authority is to be treated as knowing of a contravention if it has information from which the contravention can reasonably be inferred; and
     
      (b) proceedings against a person in respect of a contravention are to be treated as begun when a warning notice is given to him under section 92.
    Procedure.    92. - (1) If the competent authority proposes to take action against a person under section 91, it must give him a warning notice.
     
         (2) A warning notice about a proposal to impose a penalty must state the amount of the proposed penalty.
     
         (3) A warning notice about a proposal to publish a statement must set out the terms of the proposed statement.
     
         (4) If the competent authority decides to take action against a person under section 91, it must give him a decision notice.
     
         (5) A decision notice about the imposition of a penalty must state the amount of the penalty.
     
         (6) A decision notice about the publication of a statement must set out the terms of the statement.
     
         (7) If the competent authority decides to take action against a person under section 91, he may refer the matter to the Tribunal.
     
    Statement of policy.    93. - (1) The competent authority must prepare and issue a statement ("its policy statement") of its policy with respect to-
     
     
      (a) the imposition of penalties under section 91; and
     
      (b) the amount of penalties under that section.
         (2) The competent authority's policy in determining what the amount of a penalty should be must include having regard to-
     
     
      (a) the seriousness of the contravention in question in relation to the nature of the requirement contravened;
     
      (b) the extent to which that contravention was deliberate or reckless; and
     
      (c) whether the person on whom the penalty is to be imposed is an individual.
         (3) The competent authority may at any time alter or replace its policy statement.
     
         (4) If its policy statement is altered or replaced, the competent authority must issue the altered or replacement statement.
     
         (5) In exercising, or deciding whether to exercise, its power under section 91 in the case of any particular contravention, the competent authority must have regard to any policy statement published under this section and in force at the time when the contravention in question occurred.
     
         (6) The competent authority must publish a statement issued under this section in the way appearing to the competent authority to be best calculated to bring it to the attention of the public.
     
         (7) The competent authority may charge a reasonable fee for providing a person with a copy of the statement.
     
         (8) The competent authority must, without delay, give the Treasury a copy of any policy statement which it publishes under this section.
     
    Statements of policy: procedure.    94. - (1) Before issuing a statement under section 93, the competent authority must publish a draft of the proposed statement in the way appearing to the competent authority to be best calculated to bring it to the attention of the public.
     
         (2) The draft must be accompanied by notice that representations about the proposal may be made to the competent authority within a specified time.
     
         (3) Before issuing the proposed statement, the competent authority must have regard to any representations made to it in accordance with subsection (2).
     
         (4) If the competent authority issues the proposed statement it must publish an account, in general terms, of-
     
     
      (a) the representations made to it in accordance with subsection (2); and
     
      (b) its response to them.
         (5) If the statement differs from the draft published under subsection (1) in a way which is, in the opinion of the competent authority, significant, the competent authority must (in addition to complying with subsection (4)) publish details of the difference.
     
         (6) The competent authority may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1).
     
         (7) This section also applies to a proposal to alter or replace a statement.
     
     
    Competition
    Competition scrutiny.    95. - (1) The Treasury may by order provide for-
     
     
      (a) regulating provisions, and
     
      (b) the practices of the competent authority in exercising its functions under this Part ("practices"),
     to be kept under review.
     
         (2) Provision made as a result of subsection (1) must require the person responsible for keeping regulating provisions and practices under review to consider-
     
     
      (a) whether any regulating provision or practice has a significantly adverse effect on competition; or
     
      (b) whether two or more regulating provisions or practices taken together have, or a particular combination of regulating provisions and practices has, such an effect.
         (3) An order under this section may include provision corresponding to that made by any provision of Chapter III of Part X.
     
         (4) Subsection (3) is not to be read as in any way restricting the power conferred by subsection (1).
     
         (5) Subsections (6) to (8) apply for the purposes of provision made by or under this section.
     
         (6) Regulating provisions or practices have a significantly adverse effect on competition if-
     
     
      (a) they have, or are intended or likely to have, that effect; or
     
      (b) the effect that they have, or are intended or likely to have, is to require or encourage behaviour which has, or is intended or likely to have, a significantly adverse effect on competition.
         (7) If regulating provisions or practices have, or are intended or likely to have, the effect of requiring or encouraging exploitation of the strength of a market position they are to be taken to have, or be intended or be likely to have, an adverse effect on competition.
     
         (8) In determining whether any of the regulating provisions or practices have, or are intended or likely to have, a particular effect, it may be assumed that the persons to whom the provisions concerned are addressed will act in accordance with them.
     
         (9) "Regulating provisions" means-
     
     
      (a) listing rules,
     
      (b) general guidance given by the competent authority in connection with its functions under this Part.
     
    Miscellaneous
    Obligations of issuers of listed securities.    96. - (1) Listing rules may-
     
     
      (a) specify requirements to be complied with by issuers of listed securities; and
     
      (b) make provision with respect to the action that may be taken by the competent authority in the event of non-compliance.
         (2) If the rules require an issuer to publish information, they may include provision authorising the competent authority to publish it in the event of his failure to do so.
     
         (3) This section applies whenever the listed securities were admitted to the official list.
     
    Appointment by competent authority of persons to carry out investigations.    97. - (1) Subsection (2) applies if it appears to the competent authority that there are circumstances suggesting that-
     
     
      (a) there may have been a breach of listing rules;
     
      (b) a person who was at the material time a director of an issuer of listed securities has been knowingly concerned in a breach of listing rules by that issuer;
     
      (c) a person who was at the material time a director of a person applying for the admission of securities to the official list has been knowingly concerned in a breach of listing rules by that applicant;
     
      (d) there may have been a contravention of section 83, 85 or 98.
         (2) The competent authority may appoint one or more competent persons to conduct an investigation on its behalf.
     
         (3) Part XI applies to an investigation under subsection (2) as if-
     
     
      (a) the investigator were appointed under section 167(1);
     
      (b) references to the investigating authority in relation to him were to the competent authority;
     
      (c) references to the offences mentioned in section 168 were to those mentioned in subsection (1)(d);
     
      (d) references to an authorised person were references to the person under investigation.
    Advertisements etc. in connection with listing applications.    98. - (1) If listing particulars are, or are to be, published in connection with an application for listing, no advertisement or other information of a kind specified by listing rules may be issued in the United Kingdom unless the contents of the advertisement or other information have been submitted to the competent authority and that authority has-
     
     
      (a) approved those contents; or
     
      (b) authorised the issue of the advertisement or information without such approval.
         (2) A person who contravenes subsection (1) is guilty of an offence and liable-
     
     
      (a) on summary conviction, to a fine not exceeding the statutory maximum;
     
      (b) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine, or both.
         (3) A person who issues an advertisement or other information to the order of another person is not guilty of an offence under subsection (2) if he shows that he believed on reasonable grounds that the advertisement or information had been approved, or its issue authorised, by the competent authority.
     
         (4) If information has been approved, or its issue has been authorised, under this section, neither the person issuing it nor any person responsible for, or for any part of, the listing particulars incurs any civil liability by reason of any statement in or omission from the information if that information and the listing particulars, taken together, would not be likely to mislead persons of the kind likely to consider acquiring the securities in question.
     
         (5) The reference in subsection (4) to a person incurring civil liability includes a reference to any other person being entitled as against that person to be granted any civil remedy or to rescind or repudiate an agreement.
     
    Fees.    99. - (1) Listing rules may require the payment of fees to the competent authority in respect of-
     
     
      (a) applications for listing;
     
      (b) the continued inclusion of securities in the official list;
     
      (c) applications under section 88 for approval as a sponsor; and
     
      (d) continued inclusion of sponsors in the list of sponsors.
         (2) In exercising its powers under subsection (1), the competent authority may set such fees as it considers will (taking account of the income it expects as the competent authority) enable it-
     
     
      (a) to meet expenses incurred in carrying out its functions under this Part or for any incidental purpose;
     
      (b) to maintain adequate reserves; and
     
      (c) in the case of the Authority, to repay the principal of, and pay any interest on, any money which it has borrowed and which has been used for the purpose of meeting expenses incurred in relation to-
     
        (i) its assumption of functions from the London Stock Exchange Limited in relation to the official list; and
     
        (ii) its assumption of functions under this Part.
         (3) In fixing the amount of any fee which is to be payable to the competent authority, no account is to be taken of any sums which it receives, or expects to receive, by way of penalties imposed by it under this Part.
     
         (4) Subsection (2)(c) applies whether expenses were incurred before or after the coming into force of this Part.
     
         (5) Any fee which is owed to the competent authority under any provision made by or under this Part may be recovered as a debt due to it.
     
    Penalties.    100. - (1) In determining its policy with respect to the amount of penalties to be imposed by it under this Part, the competent authority must take no account of the expenses which it incurs, or expects to incur, in discharging its functions under this Part.
     
         (2) The competent authority must prepare and operate a scheme for ensuring that the amounts paid to it by way of penalties imposed under this Part are applied for the benefit of issuers of securities admitted to the official list.
     
         (3) The scheme may, in particular, make different provision with respect to different classes of issuer.
     
         (4) Up to date details of the scheme must be set out in a document ("the scheme details").
     
         (5) The scheme details must be published by the competent authority in the way appearing to it to be best calculated to bring them to the attention of the public.
     
         (6) Before making the scheme, the competent authority must publish a draft of the proposed scheme in the way appearing to it to be best calculated to bring it to the attention of the public.
     
         (7) The draft must be accompanied by notice that representations about the proposals may be made to the competent authority within a specified time.
     
         (8) Before making the scheme, the competent authority must have regard to any representations made to it under subsection (7).
     
         (9) If the competent authority makes the proposed scheme, it must publish an account, in general terms, of-
     
     
      (a) the representations made to it in accordance with subsection (7); and
     
      (b) its response to them.
         (10) If the scheme differs from the draft published under subsection (6) in a way which is, in the opinion of the competent authority, significant the competent authority must (in addition to complying with subsection (9)) publish details of the difference.
     
         (11) The competent authority must, without delay, give the Treasury a copy of any scheme details published by it.
     
         (12) The competent authority may charge a reasonable fee for providing a person with a copy of-
     
     
      (a) a draft published under subsection (6);
     
      (b) scheme details.
         (13) Subsections (6) to (10) and (12) apply also to a proposal to alter or replace the scheme.
     
    Listing rules: general provisions.    101. - (1) Listing rules may make different provision for different cases.
     
         (2) Listing rules may authorise the competent authority to dispense with or modify the application of the rules in particular cases and by reference to any circumstances.
     
         (3) Listing rules must be made by an instrument in writing.
     
         (4) Immediately after an instrument containing listing rules is made, it must be printed and made available to the public with or without payment.
     
         (5) A person is not to be taken to have contravened any listing rule if he shows that at the time of the alleged contravention the instrument containing the rule had not been made available as required by subsection (4).
     
         (6) The production of a printed copy of an instrument purporting to be made by the competent authority on which is endorsed a certificate signed by an officer of the authority authorised by it for that purpose and stating-
     
     
      (a) that the instrument was made by the authority,
     
      (b) that the copy is a true copy of the instrument, and
     
      (c) that on a specified date the instrument was made available to the public as required by subsection (4),
     is evidence (or in Scotland sufficient evidence) of the facts stated in the certificate.
     
         (7) A certificate purporting to be signed as mentioned in subsection (6) is to be treated as having been properly signed unless the contrary is shown.
     
         (8) A person who wishes in any legal proceedings to rely on a rule-making instrument may require the Authority to endorse a copy of the instrument with a certificate of the kind mentioned in subsection (6).
     
    Exemption from liability in damages.    102. - (1) Neither the competent authority nor any person who is, or is acting as, a member, officer or member of staff of the competent authority is to be liable in damages for anything done or omitted in the discharge, or purported discharge, of the authority's functions.
     
         (2) Subsection (1) does not apply-
     
     
      (a) if the act or omission is shown to have been in bad faith; or
     
      (b) so as to prevent an award of damages made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.
    Interpretation of this Part.    103. - (1) In this Part-
     
     
      "application" means an application made under section 75;
     
      "issuer", in relation to anything which is or may be admitted to the official list, has such meaning as may be prescribed by the Treasury;
     
      "listing" has the meaning given in section 74(5);
     
      "listing particulars" has the meaning given in section 79(2);
     
      "listing rules" has the meaning given in section 74(4);
     
      "new securities" has the meaning given in section 84(2);
     
      "the official list" means the list maintained as the official list by the Authority immediately before the coming into force of section 74, as that list has effect for the time being;
     
      "security" (except in section 74(2)) has the meaning given in section 74(5).
         (2) In relation to any function conferred on the competent authority by this Part, any reference in this Part to the competent authority is to be read as a reference to the person by whom that function is for the time being exercisable.
     
         (3) If, as a result of an order under Schedule 8, different functions conferred on the competent authority by this Part are exercisable by different persons, the powers conferred by section 91 are exercisable by such person as may be determined in accordance with the provisions of the order.
     
         (4) For the purposes of this Part, a person offers securities if, and only if, as principal-
     
     
      (a) he makes an offer which, if accepted, would give rise to a contract for their issue or sale by him or by another person with whom he has made arrangements for their issue or sale; or
     
      (b) he invites a person to make such an offer.
         (5) "Offer" and "offeror" are to be read accordingly.
     
         (6) For the purposes of this Part, the question whether a person offers securities to the public in the United Kingdom is to be determined in accordance with Schedule 11.
     
         (7) For the purposes of subsection (4) "sale" includes any disposal for valuable consideration.
     
     continue
     
     previous sectioncontents
     
     Other UK Acts | Home | Scotland Legislation | Wales Legislation | Company Formation Online | Company Formations in Republic of Ireland | Company Registration in Northern Ireland | Incorporate in California, Nevada, Florida and New York | Incorporate Offshore

    © Crown copyright 2000
    Prepared 19 June 2000

    Financial Services and Markets Act 2000 is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.
    Publishing Rights: Coddan CPM Core Licence (HMSO) number is C02W0007897 issued on 25 November 2005 by HMSO Licensing Division (Core Licence.pdf Licence to reproduce public sector information).
    Copyright © 1993-2012. All rights reserved. The logo and the Coddan company brand are registered trademarks of Coddan CPM Ltd. Coddan CPM Ltd is a private limited company registered in England, whose registered number is 05370296, and whose registered office address is 124 Baker street, London W1U 6TY, VAT registered number is 864 142 527. Coddan CPM Ltd is committed to respecting the data which we hold on you. Your details are processed and kept securely in accordance with the Data Protection Act 1998, DTA registration number is PZ9265799. The content of this site is protected under applicable copyright and trademark laws. Personal use of material is permitted for research and/or information purposes only.

    Limited company formation and small business start-up advice - we are offering companies registrations in England, Wales, Scotland, Northern Ireland, Republic of Ireland, USA and offshore jurisdictions. Our simple and cost-effective business starting-up service has various packages available to suit all needs. Expert advice and cost efficient business registration services to assist companies with their statutory obligations, including business administration, bookkeeping, accounting and annual accounting and annual return preparation. We can also help you to introduce and arrange a business bank account in the United Kingdom, Republic of Ireland, Cyprus, Gibraltar and in many other offshore countries.

    All content within this site, including, but not limited to text, software, graphics, logos, icons and images are the property of the Coddan CPM Ltd. Except as provided herein, no portion of the materials on these pages may be reprinted or republished in any form without the express written permission of Coddan CPM Ltd. Permission is granted to print copies of informational articles for your own use and review, provided that source attributions and copyright notices are maintained. All of the information contained on this web site is not meant to be advice, nor should it be followed. The information on this site pertains to UK law only and is offered as a public service. It is not intended to give legal advice about a specific legal problem, nor does it create an attorney-client relationship. Due to the importance of the individual facts of every case, the generalizations we make may not necessarily be applicable to any particular case. Changes in the law could at any time make parts of this web site obsolete. Coddan does not represent nor warrant the accuracy of any of the information contained herein, nor should it be relied upon.

    Due to the introduction of the Anti Money Laundering Regulations 2007 it is now a legal requirement that all trusts and company service providers are MLR registered. Coddan CPM Limited has been granted an MLR Registration Number 12298927. This means that we have passed the fit and proper test and successfully applied for and received confirmation from HM Customs and Excise. Please be aware that any formation agent operating without being MLR registered is not complying with the Law. We would strongly advise you to ask for an MLR number prior to processing a formation through any agent.

    In the event of Companies House rejecting an application or submission you will have three days to re-submit the application with appropriate corrections at no extra charge. We reserve the right to cancel the contract between us if one or more of the goods or services that you ordered were listed at an incorrect price due to a typographical error or an error in the pricing information received by us from our supplier. If we do cancel your order for this reason, we will notify you by email and will credit your account with any sum deducted by us from your credit card as soon as possible but in any event within 30 days of your order. We will not be obliged to offer any additional compensation for disappointment suffered. Products are delivered using Royal Mail recorded delivery post, or e-mail (as appropriate), unless otherwise stated. Where you request an alternative method of delivery, you must meet those costs. Services are provided using reasonable skill and care. Products and services will be provided in accordance with the timescales set out in the Consumer Protection (Distance Selling) Regulations 2000 unless otherwise agreed with you. Website Last Updated: 5/23/2012