3.—(1) The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005(1) is amended as follows.
(2) In article 34 (governments, central banks etc), at the end of paragraph (b)(ii), insert “except for a communication which relates to a regulated credit agreement (within the meaning given in article 60B(2) of the Regulated Activities Order (regulated credit agreements)) where entering into the agreement, or exercising or having the right to exercise rights under the agreement, constitutes the carrying on of a regulated activity of the kind specified by article 60B of the Regulated Activities Order and the exclusion in article 72G of that Order (local authorities)(3) does not apply”.
(3) After article 55A (non-real time communication by members of profession), insert—
55B. The financial promotion restriction does not apply to any non-real time communication or solicited real time communication by a person acting as an insolvency practitioner (within the meaning of the Regulated Activities Order) who carries on an activity which would be a regulated activity but for article 72H(4) of the Regulated Activities Order (insolvency practitioners).”.
Commencement Information
I1Art. 3 in force at 1.4.2014, see art. 1(3)
“The Regulated Activities Order” is defined by article 2(1) of S.I. 2005/1529 as meaning the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544). Article 60B of S.I. 2001/544 inserted by S.I. 2013/1881.
Article 72G of S.I. 2001/544 inserted by S.I. 2014/366
Article 72H of S.I. 2001/544 inserted by S.I. 2014/366.