On 8 November 2012, the Central Bank of Ireland (the “Central Bank”) issued a revised Prospectus Handbook (the “Handbook”). The Handbook is intended for use by those issuers of transferable securities which are subject to Directive 2003/71/EC, otherwise known as the Prospectus Directive. The Handbook is also relevant for those entities that act as service providers to such issuers, be they law firms, listing agents, stockbrokers or investment banks.
The Handbook is divided into three sections. Section One outlines the requirements relating to the structure and content of a prospectus. Section Two details the procedures to be followed when drawing up the prospectus and the subsequent approval and publication of the prospectus. Finally, Section Three provides guidance on the review, approval and publication processes.
In addition, the Handbook incorporates a number of annexes which include materials aimed at providing assistance during the review, approval and publication processes. The revised Prospectus Rules, the applicable submission deadlines as well as template emails, letters and forms are provided.