S.L. 386.11 Art. 4Powers of the Registrar.

Without prejudice to the powers of the Registrar under the

Act and to better implement the provisions of the Prospectus Directive, the Registrar shall have the power to:

(a) require the inclusion in the prospectus of supplementary information necessary for investor protection as the Registrar may specify;

(b) require issuers or offerors or persons that control them or are controlled by them to provide specified information and documents;

(c) require auditors and managers of the issuer or offeror as well as any financial intermediaries involved in the offer to the public to provide specified information;

(d) suspend an offer to the public for a period not exceeding ten working days or prohibit or suspend advertisements up to the said maximum period if the Registrar has reasonable grounds for suspecting that a provision of these regulations have been infringed;

(e) prohibit an offer to the public if the provisions of these regulations have been infringed or if the Registrar has reasonable grounds for suspecting that they would be infringed; and

(f) make public the fact that an issuer or offeror is failing to comply with his obligations under any provision of the Act and may disclose measures or sanctions imposed on any person responsible for the issue, circulation or distribution of a prospectus, unless such disclosure would cause disproportionate damage to the persons involved.