(1) If the requirements of paragraphs (4) and (7) are met, 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 made to an individual whom the person making the communication believes on reasonable grounds to be a high net worth individual, and

(c) relates only to one or more investments falling within paragraph (8).

(2) "High net worth individual" means an individual -

(a) who has completed and signed, within the period of twelve months ending with the day on which the communication is made, a statement complying with Part 1 of Schedule 5; and

(b) whose completion of that statement indicates that they satisfy the conditions set out in the statement to be classified as a high net worth individual.

(3) The validity of a statement completed and signed for the purposes of paragraph (2) is not affected by a defect in the form or wording of the statement, provided that the defect does not alter the statement’s meaning and that the words shown in bold type in Part I of Schedule 5 are so shown in the statement.