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The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

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Deposits: non-real time communications

22.  (1)  If the requirements of paragraph (2) are met, the financial promotion restriction does not apply to any non-real time communication which relates to a controlled activity falling within paragraph 1 of Schedule 1.

(2) The requirements of this paragraph are that the communication is accompanied by an indication—

(a)of the full name of the person with whom the investment which is the subject of the communication is to be made (“deposit-taker”);

(b)of the country or territory in which a deposit-taker that is a body corporate is incorporated (described as such);

(c)if different, of the country or territory in which the deposit-taker’s principal place of business is situated (described as such);

(d)whether or not the deposit-taker is regulated in respect of his deposit-taking business;

(e)if the deposit-taker is so regulated, of the name of the regulator in the deposit-taker’s principal place of business, or if there is more than one such regulator, the prudential regulator;

(f)whether any transaction to which the communication relates would, if entered into by the recipient and the deposit-taker, fall within the jurisdiction of any dispute resolution scheme or deposit guarantee scheme and if so, identifying each such scheme;

(g)the necessary capital information.

(3) In this article—

“full name”, in relation to a person, means the name under which that person carries on business and, if different, that person’s corporate name;

“liabilities” includes provisions where such provisions have not been deducted from the value of the assets;

“necessary capital information” means—

(a)

in relation to a deposit-taker which is a body corporate, either the amount of its paid up capital and reserves, described as such, or a statement that the amount of its paid up capital and reserves exceeds a particular amount (stating it);

(b)

in relation to a deposit-taker which is not a body corporate, either the amount of the total assets less liabilities (described as such) or a statement that the amount of its total assets exceeds a particular amount (stating it) and that its total liabilities do not exceed a particular amount (stating it).

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