Article 3 Investment advertisements issued by body corporate to existing members or creditors

Section 57 of the Act shall not apply to an investment advertisement which is issued or caused to be issued by a body corporate other than an open-ended investment company if the circumstances are that the body corporate issues or causes the advertisement to be issued to persons whom it reasonably believes to be creditors or members of, or the holders of investments falling within paragraph 1, 2 or 4 of Schedule 1 to the Act issued by, the body corporate or by another body corporate in the same group other than an open-ended investment company and the advertisement contains no invitation or information which would make it an investment advertisement other than an invitation or information relating to an investment of the kind described in this paragraph.

Section 57 of the Act shall not apply to an advertisement which is issued or caused to be issued by an open-ended investment company if the circumstances are that the open-ended investment company issues or causes the advertisement to be issued to persons whom it reasonably believes to be creditors of or the holders of investments falling within paragraph 2, 4 or 6 of Schedule 1 to the Act issued by the open-ended investment company and the advertisement contains no invitation or information which would make it an investment advertisement other than an invitation or information relating to an investment of the kind described in this paragraph.