(1) If the requirements of paragraph (2) are met, the financial promotion restriction does not apply to any communication which is made to an employee by or on behalf of a person ("A") in relation to a staff mortgage.

(2) The requirements of this paragraph are that -

(a) the employer and A have entered into a written contract specifying the terms on which the communication may be made;

(b) in the case of a communication made by a person ("B") on behalf of A, A and B have also entered into a written contract specifying the terms on which the communication may be made;

(c) where the provider of the staff mortgage is an undertaking in the same group as the employer, the employer has not received, and will not receive, any direct financial benefit as a result of the communication being made;

(d) in the case of a non-real time communication, the communication contains, or is accompanied by, a statement informing the employee of their right to seek advice from an authorised person or an appointed representative; and