Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

LR 12.1 Application


LR 12.1.1RRP

1This chapter applies to a company that has a premium listing5.

LR 12.1.2RRP

This chapter contains rules applicable to a listed company that:

  1. (1)

    purchases its own equity shares; or

  2. (2)

    purchases its own securities other than equity shares; or

  3. (3)

    sells or transfers treasury shares; or

  4. (4)


  5. (5)

    purchases its own securities from a related party.


LR 12.1.3RRP

LR 12.2 to LR 12.5 do not apply to a transaction entered into:

  1. (1)

    in the ordinary course of business by a securities dealing business; or

  2. (2)

    on behalf of third parties either by the company or any member of its group;

if the listed company has established and maintains effective Chinese walls between those responsible for any decision relating to the transaction and those in possession of inside information relating to the listed company.