Companies Act 2014 section 1362

Exclusion of Investment Intermediaries Act 1995

Section 1362 clarifies that documents issued in connection with a public offer of securities or an admission to trading on a regulated market are not to be treated as investment advertisements under the Investment Intermediaries Act 1995.

• Any document issued in connection with an offer of securities by an issuer, offeror, or person seeking admission to trading on a regulated market is excluded from the definition of "investment advertisement" under the Investment Intermediaries Act 1995.
• This exclusion applies to documents prepared in accordance with EU prospectus law as well as offering documents prepared for local offers.
• The term "document" is broadly defined and, in the case of a local offer, specifically includes an offering document.
• This provision was originally introduced by section 50 of the Investment Funds, Companies and Miscellaneous Provisions Act 2005 and has been carried over into the Companies Act 2014.