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Section 32(5)

In paragraphs (1) and (4) “the appropriate rules” means— in the case of an offer made in connection with an admission, or proposed admission, to trading on a regulated market, regulated market admission rules, in the case of an offer made in connection with an admission, or proposed admission, to trading on a primary MTF, rules made by virtue of regulation 15, in any other case, rules made by virtue of regulation 17.

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