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Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 [SI 2005 No. 1529]Introductory TextPart I Citation, Commencement and Interpretation (arts. 1-3)Article 1 Citation and commencementArticle 2 Interpretation: generalArticle 3 Interpretation: unlisted companiesPart II Controlled Activities and Controlled Investments (art. 4)Article 4 Definition of controlled activities, controlled claims management activities and controlled investmentsPart III Exemptions: Interpretation and Application (arts. 5-11)Article 5 Interpretation: financial promotion restrictionArticle 6 Interpretation: communicationsArticle 7 Interpretation: real time communicationsArticle 8 Interpretation: solicited and unsolicited real time communicationsArticle 8A Interpretation: outgoing electronic commerce communicationsArticle 9 Degree of prominence to be given to required indicationsArticle 10 Application to qualifying contracts of insuranceArticle 11 Combination of different exemptionsPart IV Exempt Communications: All Controlled Activities (arts. 12-20C)Article 12 Communications to overseas recipientsArticle 13 Communications from customers and potential customersArticle 14 Follow up non-real time communications and solicited real time communicationsArticle 15 IntroductionsArticle 16 Exempt personsArticle 17 Generic promotionsArticle 17A Communications caused to be made or directed by unauthorised personsArticle 18 Mere conduitsArticle 18A Electronic commerce communications: mere conduits, caching and hostingArticle 19 Investment professionalsArticle 20 Communications by journalistsArticle 20A Promotion broadcast by company director etc.Article 20B Incoming electronic commerce communicationsArticle 20C Communications required by the PRIIPs regulation: key information documentPart V Exempt Communications: Deposits and Insurance (arts. 21-26)Article 21 Interpretation: relevant insurance activityArticle 22 Deposits: non-real time communicationsArticle 23 Deposits: real time communicationsArticle 24 Relevant insurance activity: non-real time communicationsArticle 25 Relevant insurance activity: non-real time communications: reinsurance and large risksArticle 26 Relevant insurance activity: real time communicationPart VI Exempt Communications: Certain Controlled Activities (arts. 27-73ZA)Article 27 Application of exemptions in this PartArticle 28 One off non-real time communications and solicited real time communicationsArticle 28A One off unsolicited real time communicationsArticle 28B Real time communications: introductionsArticle 29 Communications required or authorised by enactmentsArticle 30 Overseas communicators: solicited real time communicationsArticle 31 Overseas communicators: non-real time communications to previously overseas customersArticle 32 Overseas communicators: unsolicited real time communications to previously overseas customersArticle 33 Overseas communicators: unsolicited real time communications to knowledgeable customersArticle 34 Governments, central banks etc.Article 35 Registered societiesArticle 36 Nationals of EEA States other than United KingdomArticle 37 Financial marketsArticle 38 Persons in the business of placing promotional materialArticle 39 Joint enterprisesArticle 40 Participants in certain recognised collective investment schemesArticle 41 Bearer instruments: promotions required or permitted by market rulesArticle 42 Bearer instruments: promotions to existing holdersArticle 43 Members and creditors of certain bodies corporateArticle 44 Members and creditors of open-ended investment companiesArticle 45 Group companiesArticle 46 Qualifying credit to bodies corporateArticle 46A Promotions of credit etc. for business purposesArticle 47 Persons in the business of disseminating informationArticle 48 High net worth individualsArticle 49 High net worth companies, unincorporated associations etc.Article 50 Sophisticated investorsArticle 50A Self-certified sophisticated investorsArticle 51 Associations of high net worth or sophisticated investorsArticle 52 Common interest group of a companyArticle 53 Settlors, trustees and personal representativesArticle 54 Beneficiaries of trust, will or intestacyArticle 55 Communications by members of professionsArticle 55A Non-real time communication by members of professionsArticle 55B Insolvency practitionersArticle 56 Remedy following report by Parliamentary Commissioner for AdministrationArticle 57 Persons placing promotional material in particular publicationsArticle 58 Acquisition of interest in premises run by management companiesArticle 59 Annual accounts and directors' reportArticle 60 Participation in employee share schemesArticle 61 Sale of goods and supply of servicesArticle 62 Sale of body corporateArticle 63 Takeovers of relevant unlisted companies: interpretationArticle 64 Takeovers of relevant unlisted companiesArticle 65 Takeovers of relevant unlisted companies: warrants etc.Article 66 Takeovers of relevant unlisted companies: application formsArticle 67 Promotions required or permitted by market rulesArticle 68 Promotions in connection with admission to certain UK and EEA marketsArticle 69 Promotions of securities already admitted to certain marketsArticle 70 Promotions included in listing particulars etc.Article 71 Material relating to prospectus for public offer of unlisted securitiesArticle 72 Pension products offered by employersArticle 72A Pension product offers communicated to employees by third partiesArticle 72B Insurance product offers communicated to employees by employersArticle 72C Insurance product offers communicated to employees by third partiesArticle 72D Staff mortgage offers communicated to employees by employersArticle 72E Staff mortgage offers communicated to employees by third partiesArticle 72F Credit agreements offered to employees by employersArticle 73 Advice centresArticle 73ZA Certain promotions of qualifying cryptoassetsPart VIA Exempt communication: controlled claims management activity (arts. 73A-73J)Article 73A Application of exemptions in this PartArticle 73B Communications made by legal professionalsArticle 73C Communications made by a charity or not-for-profit agencyArticle 73D Communications made by a person appointed by a statutory or other public bodyArticle 73E Communications made by the Motor Insurers' BureauArticle 73F Communications made by a medical defence unionArticle 73G Communications made by an independent trade unionArticle 73H Communications made by a students' unionArticle 73I Communications made by an insurance intermediaryArticle 73J Communications made by certain providers of referralsPart VII Revocations (art. 74)Article 74 RevocationSchedule 1Schedule 1, Part I Controlled Activities (paras. 1-11)Schedule 1, Part IA Controlled Claims Management Activity (para. 11A)Schedule 1, Part II Controlled Investments (paras. 12-28)Schedule 2 Countries and TerritoriesSchedule 3 Markets and ExchangesSchedule 3, Part A1 Criteria for Relevant UK MarketsSchedule 3, Part I Criteria for Relevant EEA or Gibraltar MarketsSchedule 3, Part II Certain Investment Exchanges Operating Relevant EEA MarketsSchedule 3, Part III Certain Non-EEA Investment Exchanges Operating Relevant MarketsSchedule 3, Part IV Other Relevant MarketsSchedule 4 Takeovers of Relevant Unlisted CompaniesSchedule 4, Part I Requirements Relating to the Offer (paras. 1-6)Schedule 4, Part II Accompanying Material (paras. 7-40)Schedule 4, Part III Additional Material Available for Inspection (paras. 41-49)Schedule 5 Statements for high net worth individuals and Self-Certified Sophisticated InvestorsSchedule 5, Part I Statement for High Net Worth Individuals (para. 1)Schedule 5, Part II Statement for Self-Certified Sophisticated Investors (para. 2)Schedule 6 RevocationSignatureExplanatory Note
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 26 February 2024 - onwards
Version 4 of 4

Article 40 Participants in certain recognised collective investment schemes

DRAFT Text inserted Regulation 10 Amendment of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 of the Draft SI - Financial Services Act 2021 (Overseas Funds Regime and Recognition of Parts of Schemes) (Amendment and Modification) Regulations 2024 (Royal Assent 29 January 2024)
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The financial promotion restriction does not apply to any non-real time communication or solicited real time communication which is made -

(a) by a person who is the operator of a scheme recognised under section 271A or section 272 of the Act; and

(b) to persons in the United Kingdom who are participants in any such recognised scheme operated by the person making the communication,

and which relates only to such recognised schemes as are operated by that person or to units in such schemes.

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