13. Promotion broadcast by a Director etc.

Past version: effective from 20/10/2015 - 19/10/2015
To view other versions open the versions tab on the right

(1) The Financial Promotion Restriction does not apply to a communication which is communicated as part of a qualifying service by a person ("D") who is a Director or employee of an undertaking ("U") where —
(a) the communication invites or induces the Recipient to acquire —
(i) a Specified Investment of the kind falling within paragraph 12(5) which is issued by U (or by an undertaking in the same Group as U); or
(ii) a Specified Investment issued or provided by an Authorised Person in the same Group as U;
(b) the communication —
(i) comprises words which are spoken by D and not broadcast, transmitted or displayed in writing; or
(ii) is displayed in writing only because it forms part of an interactive dialogue to which D is a party and in the course of which D is expected to respond immediately to questions put by a Recipient of the communication;
(c) the communication is not part of an organised marketing campaign; and
(d) the communication is accompanied by an indication that D is a Director or employee (as the case may be) of U.
(2) For the purposes of this paragraph, a "qualifying service" is a service —
(a) which is broadcast or transmitted in the form of television or radio programmes; or
(b) displayed on a web site (or similar system for the electronic display of information) comprising regularly updated news and information;
provided that the principal purpose of the service, taken as a whole and including any advertisements and other promotional material contained in it, is neither of the purposes described in paragraph 29(1)(a) or (b) of Schedule 1.
(3) For the purposes of sub-paragraph (2), a certificate given under paragraph 29(3) of Schedule 1 and not revoked is conclusive evidence of the matters certified.