The Companies Act 2006 (Act), which was published on 7 December 2006, has amended the definition of "transferable securities" and "debt securities" in the Financial Services and Markets Act 2000 (FSMA).

Transferable securities are now defined with reference to the Markets in Financial Instruments Directive (MiFID) (2004/39/EC) rather than to the Investment Services Directive (93/22/EEC).

Debt securities are defined with reference to the Transparency Directive (2004/109/EC), rather than as securities that are not "equity securities" under the Prospectus Directive (2003/71/EC).

For the relevant part of the Act that introduced the new definitions, see schedule 15, paragraph 10 of the Companies Act 2006

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