The Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1995

Article 2

SCHEDULE 1 RELEVANT EEA MARKETS

PART I EXCHANGES OPERATING RELEVANT EEA MARKETS

• Asociacion de Intermediarios de Activos Financieros.

• Amsterdam Financial Futures Market.

• Amsterdam Pork and Potato Terminal Market (NLKKAS—Amsterdam Clearing House).

• Amsterdam Stock Exchange.

• Antwerp Stock Exchange.

• Athens Stock Exchange.

• Barcelona Stock Exchange.

• Berlin Stock Exchange.

• Bilbao Stock Exchange.

• Bologna Stock Exchange.

• Bremen Stock Exchange.

• Brussels Stock Exchange.

• Copenhagen Stock Exchange (including FUTOP).

• Deutsche Terminboerse.

• Dusseldorf Stock Exchange.

• European Options Exchange.

• Finnish Options Market.

• Florence Stock Exchange.

• Frankfurt Stock Exchange.

• Genoa Stock Exchange.

• Hamburg Stock Exchange.

• Hanover Stock Exchange.

• Helsinki Stock Exchange.

• The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited.

• Irish Futures and Options Exchange.

• Lisbon Stock Exchange.

• Luxembourg Stock Exchange.

• Madrid Stock Exchange.

• Marche a Terme International de France (MATIF).

• MEFF Renta Fija.

• MEFF Renta Variable.

• Milan Stock Exchange.

• Marche des Options Negociables de Paris (MONEP).

• Munich Stock Exchange.

• Naples Stock Exchange.

• OM Stockholm AB.

• Oporto Stock Exchange.

• Oslo Stock Exchange.

• Palermo Stock Exchange.

• Paris Stock Exchange.

• Rome Stock Exchange.

• Stockholm Stock Exchange.

• Stuttgart Stock Exchange.

• Trieste Stock Exchange.

• Turin Stock Exchange.

• Valencia Stock Exchange.

• Venice Stock Exchange.

• Wiener Bourse.

PART II CRITERIA RELEVANT TO DEFINITION OF “RELEVANT EEA MARKET”

The criteria relevant for the purposes of the definition of “relevant EEA market” in article 2 of this Order are the following—

(a) the head office of the market must be situated in an EEA State; and

(b) the market must be subject to requirements in the EEA State in which its head office is situated as to—

(i) the manner in which it operates;

(ii) the means by which access may be had to the facilities it provides;

(iii) the conditions to be satisfied before an investment may be traded or dealt in by means of its facilities; and

(iv) the reporting and publication of transactions effected by means of its facilities.

Articles 2 and 16

SCHEDULE 2 EXCHANGES RELEVANT TO DEFINITION OF APPROVED SECURITIES MARKET AND FOR THE PURPOSES OF ARTICLE 16

• Alberta Stock Exchange.

• American Stock Exchange.

• Australian Stock Exchange Limited.

• Basler Effektenbourse.

• Bolsa Mexicana de Valores.

• Boston Stock Exchange.

• Bourse de Geneve.

• Chicago Board Options Exchange.

• Cincinnati Stock Exchange.

• Effektenborsenverein Zurich.

• Fukuoka Stock Exchange.

• Hiroshima Stock Exchange.

• Johannesburg Stock Exchange.

• Korea Stock Exchange.

• Kuala Lumpur Stock Exchange.

• Kyoto Securities Exchange.

• Midwest Stock Exchange.

• The Montreal Exchange.

• Nagoya Stock Exchange.

• NASDAQ.

• New York Stock Exchange.

• New Zealand Stock Exchange.

• Niigata Stock Exchange.

• Osaka Securities Exchange.

• Pacific Stock Exchange.

• Philadelphia Stock Exchange.

• Sapporo Securities Exchange.

• Securities Exchange of Thailand.

• Singapore Stock Exchange.

• Stock Exchange of Hong Kong Limited.

• Tokyo Stock Exchange.

• Toronto Stock Exchange.

• Vancouver Stock Exchange.

• Winnipeg Stock Exchange.

Article 16

SCHEDULE 3 OTHER MARKETS RELEVANT FOR THE PURPOSES OF ARTICLE 16

• Australian Financial Futures Market.

• Chicago Board of Trade.

• Chicago Mercantile Exchange.

• Coffee, Sugar and Cocoa Exchange, Inc.

• Commodity Exchange, Inc.

• Hong Kong Futures Exchange.

• International Securities Market Association.

• Kansas City Board of Trade.

• Mid-America Commodity Exchange.

• Minneapolis Grain Exchange.

• New York Cotton Exchange (including the Citrus Associates of the New York Cotton Exchange).

• New York Futures Exchange.

• New York Mercantile Exchange.

• New Zealand Futures Exchange.

• Philadelphia Board of Trade.

• Singapore International Monetary Exchange.

• South African Futures Exchange (SAFEX).

• Swiss Options and Financial Futures Exchange (SOFFEX).

• Sydney Futures Exchange.

• Toronto Futures Exchange.

Article 12

SCHEDULE 4 ADVERTISEMENTS RELATING TO MATTERS OF COMMON INTEREST

1.  An advertisment complies with the requirements of this Schedule if it complies with the requirements of paragraphs 2, 3 and 4 below.

2.  An advertisement complies with the requirements of this paragraph if it contains a statement made by the directors or the persons named therein as promoters of the company accepting responsibility therefor without any limitation of liability on the basis that they have taken all reasonable care to ensure that every statement whether of fact or opinion which it contains is true and not misleading in the form and context in which it is included.

3.  An advertisement complies with the requirements of this paragraph if it contains either—

(a) a statement by the directors or the persons named therein as promoters of the company also accepting responsibility therefor without any limitation of liability that they have taken all reasonable care to ensure that the document contains all such information as a person such as the person or persons to whom the advertisement is addressed and their professional advisers would reasonably require and reasonably expect to find there for the purpose of making an informed assessment of the assets and liabilities, financial position, profits and losses, and prospects of the company and the rights attaching to the shares or debentures to which the document relates; or

(b) the words “you should regard any subscription for shares in or debentures of this company as made primarily to assist the furtherance of its objectives (other than any purely financial objectives) and only secondarily, if at all, as an investment”.

4.  An advertisement complies with the requirements of this paragraph if it contains prominently the words “If you are in any doubt about this offer you should consult a person authorised under the Financial Services Act 1986 who specialises in advising on investments of the kind being offered” or other words to a like effect.