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  3. Point in time
    2010-11-11

PR 4.1 Use of languages

Language

PR 4.1.1RRP

1If an offer is made, or admission to trading is sought, only in the United Kingdom and the United Kingdom is the Home State, the prospectus must be drawn up in English.

[Note: article 19.1 PD]

PR 4.1.2RRP

If an offer is made, or admission to trading is sought, in more than one EEA State including the United Kingdom and the United Kingdom is the Home State, the prospectus must be drawn up in English and must also be made available either in a language accepted by the competent authorities of each Host State or in a language customary in the sphere of international finance, at the choice of the issuer, offeror or person requesting admission (as the case may be). [Note: article 19.3 PD]

PR 4.1.3RRP
  1. (1)

    If an offer is made, or admission to trading is sought, in one or more EEA States excluding the United Kingdom and the United Kingdom is the Home State, the prospectus must be drawn up in a language accepted by the competent authorities of those EEA States or in a language customary in the sphere of international finance, at the choice of the issuer, offeror or person requesting admission (as the case may be). [ Note: article 19.2 PD ]

  2. (2)

    For the purpose of the scrutiny by the FSA where the United Kingdom is the Home State, the prospectus must be drawn up either in English or in another language customary in the sphere of international finance, at the choice of the issuer, offeror or person requesting admission (as the case may be). [ Note: article 19.2 PD ]

PR 4.1.4RRP

If admission to trading of non-equity transferable securities whose denomination per unit amounts to at least 50,000 euros (or an equivalent amount) is sought in the United Kingdom or in one or more other EEA States, the prospectus must be drawn up in either a language accepted by the competent authorities of the Home State and Host States or in a language customary in the sphere of international finance, at the choice of the issuer, offeror or person requesting admission (as the case may be). [ Note: article 19.4 PD ]

English language

PR 4.1.5GRP

English is a language accepted by the FSA where the United Kingdom is a Home State or Host State.

Language customary in the sphere of international finance2

PR 4.1.5AGRP

2The FSA will consider a language to be customary in the sphere of international finance if documents in that language are accepted for scrutiny and filing in at least three international capital markets in each of the following:

  1. (1)

    Europe;

  2. (2)

    Asia; and

  3. (3)

    the Americas.

Summary to be translated into English

PR 4.1.6RRP

If:

  1. (1)

    an offer is made in the United Kingdom;

  2. (2)

    a prospectus relating to the transferable securities has been approved by the competent authority of another EEA State and the prospectus contains a summary; and

  3. (3)

    the prospectus is drawn up in a language other than English that is customary in the sphere of international finance;2

    22

the offeror must ensure that the summary is translated into English. [ Note: article 19.2 PD ]