Schedule 2, Part 2, paragraph 2(3)

The conditions are— that D continued in that belief until the time when the transferable securities in question were acquired; that they were acquired before it was reasonably practicable to bring a correction to the attention of persons likely to acquire them; that, before the transferable securities were acquired, D had taken all such steps as it was reasonable for D to have taken to secure that a correction was brought to the attention of those persons; that D continued in that belief until after the commencement of dealings in the transferable securities following their admission to trading and they were acquired after such a lapse of time that D ought in the circumstances to be reasonably excused.

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Source: legislation.gov.uk · retrieved 2026-09-04