Where securities are allocated without an element of individual choice on the part of the recipient, including allocations of securities where there is no right to repudiate the allocation or where allocation is automatic following a decision by a court, such as an allocation of securities to existing creditors in the course of a judicial insolvency proceeding, such allocation should not qualify as an offer of securities to the public.
I gcás ina leithdháiltear urrúis gan gné na rogha indibhidiúla a bheith ann don fhaighteoir, lena n-áirítear leithdháiltí urrús i gcás nach bhfuil aon cheart ann an leithdháileadh a shéanadh, nó i gcás ina ndéantar an leithdháileadh go huathoibríoch i ndiaidh cinneadh cúirte, amhail leithdháileadh urrús do chreidiúnaithe atá ann cheana le linn imeacht breithiúnach dócmhainneachta, ní cháilítear an leithdháileadh sin mar thairiscint urrús don phobal.