Securities Regulations 2009

55 These regulations and Securities Regulations 1983 are alternative means of compliance

• (1) If, in accordance with regulations 50 to 54,—

  • (a) these regulations apply to an offer of securities, the 1983 regulations do not apply to the offer:

  • (b) the 1983 regulations apply to an offer of securities, these regulations do not apply to the offer.

  (2) Subclause (1) is subject to subclauses (3) to (6).

  (3) Regulations 44 and 47 (which relate to information to be disclosed by issuers on request and the prescribed rate of interest) apply regardless of whether the 1983 regulations or these regulations apply to the offer.

  (4) Part 5 (which relates to the content of trust deeds and deeds of participation) applies to debt securities or participatory securities (as the case may be) regardless of whether the 1983 regulations or these regulations apply to the offer.

  (5) If, in accordance with regulations 51 to 54, the 1983 regulations apply to an offer of securities, the issuer may elect, in accordance with subclause (6), that the following provisions of these regulations apply to an advertisement that relates to the securities (instead of the corresponding provisions of the 1983 regulations):

  • (a) Part 3 and Schedule 14 (which relate to advertisements):

  • (b) Part 4 (to the extent that it relates to restrictions on the content of advertisements).

  (6) For the purposes of subclause (5), an issuer may elect that Parts 3 and 4 apply to an advertisement—

  • (a) by completing a certificate in the form set out in Schedule 14 in respect of the advertisement; or

  • (b) if a certificate is not required in respect of the advertisement, by giving to the Commission, before the distribution of the advertisement, a notice to the effect that those Parts apply to the advertisement.