Schedule 2, Part 2, paragraph 3(3)

The conditions are— that D continued in that belief until the time when the transferable securities were acquired; that they were acquired before it was reasonably practicable to bring the fact that the expert was not competent, or had not consented, to the attention of persons likely to acquire the transferable securities in question; 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 that fact 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