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Financial Services and Markets Act 2000

Section 25: Contravention of section 21

69.This section provides that it is an offence to breach the financial promotion prohibition.  The sanctions are the same as those which apply under section 23 for a breach of the general prohibition.

70.Subsection (2) provides a defence for a person accused of the offence if he can prove either that he believed on reasonable grounds that the content of the communication was prepared or approved by an authorised person, or that he exercised due diligence and took reasonable precautions to avoid committing the offence.

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