Skupnost lahko s sporazumi, sklenjenimi na podlagi Pogodbe z eno ali več državami nečlanicami, zaradi vzajemnosti prizna prospekte o javni ponudbi, pripravljene in pregledane v skladu s pravili držav nečlanic ali zadevnih držav, kakor da izpolnjujejo zahteve te direktive, pod pogojem, da zadevna pravila dajejo enako raven varstva investitorjev, kakor jih daje ta direktiva, čeprav so pravila drugačna od določb te direktive.
The Community may, by means of agreements with one or more non-member countries concluded pursuant to the Treaty, recognize public offer prospectuses drawn up and scrutinized in accordance with the rules of the non-member country or countries concerned as meeting the requirements of this Directive, subject to reciprocity, provided that the rules concerned give investors protections equivalent to that afforded by this Directive, even if those rules differ from the provisions of this Directive.