Schedule 2, Part 2, paragraph 4

In this paragraph “statement” has the same meaning as in paragraph 2. A person (D) does not incur liability under regulation 30(1) for loss caused by a statement if D satisfies the court— that before the transferable securities in question were acquired, a correction had been published in a manner calculated to bring it to the attention of persons likely to acquire the securities, or that D took all such steps as it was reasonable for D to take to secure such publication and reasonably believed that it had taken place before the securities were acquired. Nothing in this paragraph is to be taken as affecting paragraph 2.

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