20B.—(1) The financial promotion restriction does not apply to an incoming electronic commerce communication.
(2) Paragraph (1) does not apply to—
(a)a communication which constitutes an advertisement by the operator of a UCITS directive scheme of units in that scheme;
(b)a communication consisting of an invitation or inducement to enter into a contract of insurance, where—
(i)the communication is made by an undertaking which has received official authorisation in accordance with Article 4 of the life assurance consolidation directive or the first non-life insurance directive, and
(ii)the insurance falls within the scope of any of the insurance directives; or
(c)an unsolicited communication made by electronic mail.
(3) In this article, “UCITS directive scheme” means an undertaking for collective investment in transferable securities which is subject to Directive 85/611/EEC of the Council of the European Communities of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities(1), and has been authorised in accordance with Article 4 of that Directive.
(4) For the purposes of this article, a communication by electronic mail is to be regarded as unsolicited, unless it is made in response to an express request from the recipient of the communication.
OJ L 375, 31.12.85, p. 3.