Related provisions for MCOB 2.7.3
21 - 40 of 69 items.
In this chapter (except where specifically provided to the contrary) a reference to a transaction by a listed company:(1) (subject to paragraphs (3),(4) and (5)) includes all agreements (including amendments to agreements) entered into by the listed company or its subsidiary undertakings;(2) includes the grant or acquisition of an option as if the option had been exercised except that, if exercise is solely at the listed company's or subsidiary undertaking's discretion, the transaction
A listed company must, in relation to a class 1 transaction:(1) comply with the requirements of LR 10.4 (Class 2 requirements) for the transaction;(2) send an explanatory circular to its shareholders and obtain their prior approval in a general meeting for the transaction; and(3) ensure that any agreement effecting the transaction is conditional on that approval being obtained.Note: LR 13 sets out requirements for the content and approval of class 1 circulars.
Where a UK recognised body makes an offer or agrees to delegate any of its relevant functions to another person, it must immediately give the FSA notice of that event, and:(1) inform the FSA of the reasons for that delegation or proposed delegation;(2) inform the FSA of the reasons why it is satisfied that it will continue to meet the recognition requirements following that delegation;(3) where it makes such an offer by issuing a written invitation to tender to another body or
If a provision in the Handbook refers to a communication, notice, agreement or other document "in writing" then, unless the contrary intention appears, it means in legible form and capable of being reproduced on paper, irrespective of the medium used. Expressions related to writing must be interpreted accordingly.
GEN 2.2.14 R means that, for example, electronic media may be used to make communications which are required by a provision of the Handbook to be "in writing", unless a contrary intention appears, or the use of electronic media would contravene some other requirement such as the requirement to treat customers fairly under Principle 6. COB 1.8 (Application to electronic media) contains further guidance in respect of electronic communication with or for customers. GEN 2.2.14 R does
(1) If an application is made for the admission of a class of shares, a sufficient number of shares of that class must, no later than the time of admission, be distributed to the public in one or more EEA States.(2) For the purposes of paragraph (1), account may also be taken of holders in one or more states that are not EEA States, if the shares are listed in the state or states.(3) For the purposes of paragraph (1), a sufficient number of shares will be taken to have been distributed
In the opinion of the FSA, a novation or a number of novations would constitutean insurance business transfer only if their number or value were such that the novation was to be regarded as a transfer of part of the business. A novation is an agreement between the policyholder and two insurers whereby a contract with one insurer is replaced by a contract with the other. In the opinion of the FSA, where an insurer agrees to meet the liabilities (this may include undertaking the
(1) 1The
movement, reallocation or transfer of financial
instruments within the accounts of one legal entity will be
reportable where the movement, reallocation or transfer is as a result of
an agreement to transfer rights in a financial
instrument to which this chapter applies between clients of the firm or
between the firm (or a member
of its group) and a client, and where the movement, reallocation
or transfer involves a transaction within the meaning of Article 5 of the MiFID
Section 420(3) of the Act (Parent and subsidiary undertaking) (supplemented by paragraph 3(3) of Schedule 6 to the Act) states that an incorporated friendly society is a parent undertaking of another body corporate (a subsidiary undertaking) if it has the following relationship to it:(1) it holds a majority of the voting rights in the subsidiary undertaking; or(2) it is a member of the subsidiary undertaking and has the right to appoint or remove a majority of the subsidiary undertaking's
(1) 1The operator of a trade-matching or
reporting system approved by the FSA, or the operator of an MTF or a market
operator through whose systems a reportable transaction is
to be completed and which has, pursuant to SUP 17.2.3 R,
agreed to make transaction reports to the FSA on behalf of a firm,
must:make
reports to the FSA in
respect of each transaction to
which the agreement relates; and(2) ensure such
reports conform with the requirements of this chapter (both as to the
The illustration provided as part of the offer document in accordance with MCOB 6.4.1 R(1) must meet the requirements of MCOB 9.4, with the following modifications:(1) the illustration must be suitably adapted and revised to reflect the fact that the firm is making an offer to a customer and updated to reflect changes to, for example, for a lifetime mortgage3 the interest rate, charges, the exchange rate or the APR required by MCOB 10 (Annual Percentage Rate) at the date the illustration
Where the securities are subject to an underwriting agreement a listed company may, at its discretion and subject to DTR 2 (Disclosure and control of inside information by issuers), delay notifying a RIS as required by LR 9.6.4R (6) for up to two business days until the obligation by the underwriter to take or procure others to take securities is finally determined or lapses. In the case of an issue or offer of securities which is not underwritten, notification of the result must