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Amendment of section 43 of Act of 2005.
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13.— The following section is substituted for section 43 of the Act of 2005:
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“Restriction of liability where non-equity securities solely involved.
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43.— Where a prospectus is issued solely in respect of non-equity securities—
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(a) only—
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(i) the offeror or the person who has sought the admission of the securities to which the prospectus relates to trading on a regulated market, and
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(ii) subject to, and to the extent provided in, paragraph (c), the guarantor (if any),
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and no other person referred to in section 41 shall be liable under that section in the circumstances in which that section applies unless—
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(I) the prospectus expressly provides otherwise, or
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(II) that other such person is convicted on indictment of an offence created by Irish prospectus law or an offence under section 48 in respect of the issue of that prospectus,
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(b) section 383(3) of the Act of 1963 shall not apply to the directors or secretary of the issuer to the extent that such application would thereby impose a liability under section 41 on such directors or secretary, and
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(c) no liability shall attach under section 41 to a guarantor of such securities save in respect of statements included in, or information omitted from, the prospectus that relate to the guarantor or the guarantee given by the guarantor.”.
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