Exclusion of liability for a defective securities information sheet

(1) A claim cannot be brought under section 11 against a person who proves that they were not aware of the inaccuracy of the particulars in the securities information sheet, or of the misleading nature of those particulars, and that their lack of awareness was not due to gross negligence.
(2) A claim under section 11 does not exist where 1. the securities were not acquired on the basis of the securities information sheet, 2. the matter to which the inaccurate or misleading particulars in the securities information sheet relate did not contribute to a fall in the stock exchange price of the securities, 3. the acquirer was aware of the inaccuracy of the particulars in the securities information sheet, or of the misleading nature of those particulars, at the time of acquisition, or 4. before the conclusion of the acquisition transaction, a clearly presented correction of the inaccurate or misleading particulars was published domestically as part of the issuer's annual financial statements or interim report, as part of a publication under Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1; L 287, 21.10.2016, p. 320; L 306, 15.11.2016, p. 43; L 348, 21.12.2016, p. 83), as last amended by Regulation (EU) 2016/1033 (OJ L 175, 30.6.2016, p. 1), as amended from time to time, or of a comparable announcement.