A planned upgrade will take place on 16/05/2024 between 17:00 BST and 19:00 BST. During this time, some features that require authentication may be unavailable.
Related provisions for BIPRU 7.2.26
Article 28 of the PD Regulation provides examples of information that may be incorporated by reference:
Arrangements for incorporation by reference |
||
1. |
Information may be incorporated by reference in a prospectus or base prospectus, notably if it is contained in one the following documents: |
|
(1) |
annual and interim financial information; |
|
(2) |
documents prepared on the occasion of a specific transaction such as a merger or demerger; |
|
(3) |
audit reports and financial statements; |
|
(4) |
memorandum and articles of association; |
|
(5) |
earlier approved and published prospectuses and/or base prospectuses; |
|
(6) |
regulated information; |
|
(7) |
circulars to security holders. |
|
2. |
The documents containing information that may be incorporated by reference in a prospectus or base prospectus or in the documents composing it shall be drawn up following the provisions of [PR 4.1 (Use of languages)]. |
|
3. |
If a document which may be incorporated by reference contains information which has undergone material changes, the prospectus or base prospectus shall clearly state such a circumstance and shall give the updated information. |
|
4. |
The issuer, the offeror or the person asking for admission to trading on a regulated market may incorporate information in a prospectus or base prospectus by making reference only to certain parts of a document, provided that it states that the non-incorporated parts are either not relevant for the investor or covered elsewhere in the prospectus. |
|
5. |
When incorporating information by reference, issuers, offerors or persons asking for admission to trading on a regulated market shall endeavour not to endanger investor protection in terms of comprehensibility and accessibility of the information. |
12Example of assessment set out at 1.3.10
The following example illustrates the position: |
|||
Surrender value |
£10,000 |
TEP value |
£16,000 |
Loss calculated by standard approach |
£5,000 |
||
Remortgaging costs |
£300 |
||
Total |
£15,300 |
||
Complainant receives £16,000 all ultimately funded from the TEP sale. |
|||
Surrender value |
£10,000 |
TEP value |
£13,000 |
Redress calculated by standard approach |
£5,000 |
||
Remortgaging costs |
£300 |
||
Total |
£15,300 |
||
Complainant receives £15,300, £13,000 ultimately funded from the TEP sale and £2,300 ultimately funded from the firm. |