(1) The financial promotion restriction does not apply to any communication -

(a) which is a non-real time communication or a solicited real time communication;

(b) which is communicated by a relevant market; and

(c) to which paragraph (2) or (3) applies.

(2) This paragraph applies to a communication if -

(a) it relates only to facilities provided by the market; and

(b) it does not identify (directly or indirectly) -

(i) any particular investment issued, or to be issued, by or available from an identified person as one that may be traded or dealt in on the market; or

(ii) any particular person as a person through whom transactions on the market may be effected.

(3) This paragraph applies to a communication if -

(a) it relates only to a particular investment falling within paragraph 21, 22, 23 or 23A of Schedule 1; and

(b) it identifies the investment as one that may be traded or dealt in on the market.

(4) "Relevant market" means a market which -