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The Financial Services Act 1986 (Investment Advertisements) (Exemptions) (No. 2) Order 1992

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Advertisements directed at informing or influencing persons of a particular kind

3.—(1) For the purposes of article 2 of this Order, each of the following is an indication that an advertisement is directed at informing or influencing persons of a kind specified in paragraph (1) of that article–

(a)the advertisement expressly states that it is directed at persons of a kind specified in article 2(1) of this Order and that it would be imprudent for persons of any other kind to respond to it;

(b)the advertisement expressly states that any investment or service to which it relates is available only to persons having professional experience in matters relating to investment;

(c)the manner in which the advertisement is disseminated is such that it is unlikely to come to the attention of persons who are not professionally experienced in matters relating to investment; and

(d)any invitation or information contained in the advertisement is unlikely to appeal to persons who do not have professional experience in matters relating to investment.

(2) None of the indications given in paragraph (1) above is to be taken as showing conclusively that an advertisement is directed as there mentioned and, equally, the fact that an advertisement contains none of those indications is not to be taken to indicate that it is not so directed.

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