In Part 6 of the Financial Services and Markets Act 2000 (c 8) (which makes provision about official listing, prospectus requirements for transferable securities, etc), in section 103(1) (interpretation), at the appropriate place insert—
““the transparency obligations directive” means Directive 2004/ 109/EC of the European Parliament and of the Council relating to the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market;”.
(1) After section 89 of the Financial Services and Markets Act 2000 insert—
(1) The competent authority may make rules for the purposes of the transparency obligations directive.
(2) The rules may include provision for dealing with any matters arising out of or related to any provision of the transparency obligations directive.
(3) The competent authority may also make rules—
(a) for the purpose of ensuring that voteholder information in respect of voting shares traded on a UK market other than a regulated market is made public or notified to the competent authority;
(b) providing for persons who hold comparable instruments (see section 89F(1)(c)) in respect of voting shares to be treated, in the circumstances specified in the rules, as holding some or all of the voting rights in respect of those shares.
(4) Rules under this section may, in particular, make provision—
(a) specifying how the proportion of—
(i) the total voting rights in respect of shares in an issuer, or
(ii) the total voting rights in respect of a particular class of shares in an issuer,
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