qualifying public offer

  1. (as defined in article 25DB of the Regulated Activities Order) an offer of relevant securities to the public in the United Kingdom that meets the following conditions:

  2. (a) ‘Condition A’ is that, if paragraph 13 of Schedule 1 to the Public Offers and Admissions to Trading Regulations (which exempts offers made by means of a regulated platform) were disregarded, the offer would be prohibited by regulation 12(1) of those Regulations;

  3. (b) ‘Condition B’ is that the relevant securities:

    1. (i) fall within regulation 5(1)(a) of the Public Offers and Admissions to Trading Regulations (which defines ‘relevant securities’ for the purposes of those Regulations) and are investments of a kind specified by Part 3 of the Regulated Activities Order; or

    2. (ii) fall within regulation 5(1)(b) of the Public Offers and Admissions to Trading Regulations as a result of being investments of the kind specified by article 77 of the Regulated Activities Order; and 

  4. (c) ‘Condition C’ is that the relevant securities are not issued or to be issued by the POP operator.
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