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CHAPTER IU.K.SCOPE AND DEFINITIONS

Article 3U.K.Conditions applying to the provision of information

1.Where, for the purposes of this Regulation, information is required to be provided in a durable medium [F1to [F2clients or potential clients],]F3... investment firms [F4must provide that information in electronic format, subject to paragraphs 1ZA and 1A.]

[F51ZAWhere the client or potential client to whom the information is required to be provided is a retail client or potential retail client, investment firms must provide that information in electronic format if—

(a)the retail client or potential retail client has been informed of the right to receive the information on paper instead of in electronic format; and

(b)the retail client or potential retail client has not requested the information on paper.]

[F61A.Where the client or potential client is a retail client, or potential retail client, who has requested to receive the information on paper, that information must be provided on paper and free of charge.

F71B.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

2.Where, pursuant to Article 46, 47, 48, 49, 50 or 66(3) of this Regulation, an investment firm provides information to a client by means of a website and that information is not addressed personally to the client, investment firms shall ensure that the following conditions are satisfied:

(a)the provision of that information in that medium is appropriate to the context in which the business between the firm and the client is, or is to be, carried on;

(b)[F8in the case of a retail client,] the client must specifically consent to the provision of that information in that form;

(c)the client must be notified electronically of the address of the website, and the place on the website where the information may be accessed;

(d)the information must be up to date;

(e)the information must be accessible continuously by means of that website for such period of time as the client may reasonably need to inspect it.

3.For the purposes of this Article, the provision of information by means of electronic communications shall be treated as appropriate to the context in which the business between the firm and the client is, or is to be, carried on where there is evidence that the client has regular access to the internet. The provision by the client of an e-mail address for the purposes of the carrying on of that business shall be treated as such evidence.

Textual Amendments