(1) Subject to paragraph (2), an advertisement to which this Part applies shall comply with the principles set out in Schedule 2 to these Regulations.
(2) Paragraph 4 of Schedule 2 to these Regulations shall not apply to cases where a relevant person is obliged to draw up a prospectus pursuant to EU prospectus law (or not being so obliged nevertheless draws up a prospectus pursuant to Regulation 8 (5) or the corresponding provisions of the national legislation of the other Member State concerned implementing the Directive).
(3) An advertisement that complies with paragraph (1) shall not be considered as a prospectus for the purpose of these Regulations.
(4) A relevant person shall be guilty of an offence if an advertisement that fails to comply with paragraph (1) is made or issued in or from the State by or on behalf of the relevant person.