(1) The market value at any time of securities or strips which are not included in the official UK list but are listed on a foreign stock exchange is—
(a) on any day the exchange is open, the price shown in the foreign exchange list for that day as the closing price for the securities or strips on that day (or if more than one price is shown the lower price plus one-half of the difference between those two figures), and
(b) on any day the exchange is closed, that value on the latest previous day on which it was open.
(2) If securities are quoted in more than one foreign exchange list—
(a) any foreign exchange list published for a foreign stock exchange which is regarded as the major exchange for such securities is to be used for those purposes in preference to any other such list, but
(b) if no exchange is regarded as the major exchange, any such list published for a foreign stock exchange in the territory in which the issuing company is resident is to be used for the purposes of these Regulations in preference to any other such list.
(3) If a strip or a security exchanged for strips of that security is quoted in more than one foreign exchange list—
(a) any such list published for a foreign stock exchange in the territory of the issuing government is to be used for the purposes of these Regulations in preference to any other such list, and
(b) any such list published for a foreign stock exchange which is regarded as the major exchange in that territory for such strips or securities is to be used for those purposes in preference to any other such list.
(4) In this regulation—
“foreign exchange list” means any publication which performs in the case of a foreign stock exchange a function equivalent, or broadly similar, to that performed by the Stock Exchange Daily Official List,
“foreign stock exchange” means a recognised stock exchange in a territory outside the United Kingdom on which securities or strips are traded.
