(1) Subject to paragraph (2), the financial promotion restriction does not apply to any non-real time communication if -

(a) the content of the communication is devised by a person acting in the capacity of a journalist;

(b) the communication is contained in a qualifying publication; and

(c) in the case of a communication requiring disclosure, one of the conditions in paragraph (2) is met.

(2) The conditions in this paragraph are that -

(a) the communication is accompanied by an indication explaining the nature of the author’s financial interest or that of a member of his family (as the case may be);

(b) the authors are subject to proper systems and procedures which prevent the publication of communications requiring disclosure without the explanation referred to in sub-paragraph (a); or

(c) the qualifying publication in which the communication appears falls within the remit of -

(i) the Code of Practice issued by the Press Complaints Commission;

(ii) the OFCOM Broadcasting Code; or

(iii) the Producers' Guidelines issued by the British Broadcasting Corporation.