SCHEDULE 10 Compensation: Exemptions
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

SCHEDULE 10 Compensation: Exemptions

Section 90(2) and (5)

Statements believed to be true

1

(1)     In this paragraph “statement†means—

(a)     any untrue or misleading statement in listing particulars; or

(b)     the omission from listing particulars of any matter required to be included by section 80 or 81.

(2)     A person does not incur any liability under section 90(1) for loss caused by a statement if he satisfies the court that, at the time when the listing particulars were submitted to the [FCA], he reasonably believed (having made such enquiries, if any, as were reasonable) that—

(a)     the statement was true and not misleading, or

(b)     the matter whose omission caused the loss was properly omitted,

and that one or more of the conditions set out in sub-paragraph (3) are satisfied.

(3)     The conditions are that—

(a)     he continued in his belief until the time when the securities in question were acquired;

(b)     they were acquired before it was reasonably practicable to bring a correction to the attention of persons likely to acquire them;

(c)     before the securities were acquired, he had taken all such steps as it was reasonable for him to have taken to

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Transferred malice

Transferred maliceThe principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over