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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2005 - onwards
Version 2 of 2

Article 42 Bearer instruments: promotions to existing holders

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

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

(b) is communicated by a body corporate ("A") that is not an open-ended investment company;

(c) is made to or may reasonably be regarded as directed at persons entitled to bearer instruments issued by A, a parent undertaking of A or a subsidiary undertaking of A;

(d) relates only to instruments of a class which consists of or includes either the bearer instruments to which the communication relates or instruments in respect of which those bearer instruments confer rights; and

(e) is capable of being accepted or acted on only by persons who are entitled to instruments (whether or not bearer instruments) issued by A, a parent undertaking of A or a subsidiary undertaking of A.

(2) "Bearer instruments" has the meaning given by article 41.