{
  "url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1992/note",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1992/note.json",
  "legislation": "uksi/1992/274",
  "legislation_title": "The Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1992",
  "legislation_url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1992",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThe Order provides various exemptions from the restrictions on investment advertising imposed by section 57 of the Financial Services Act 1986.\nArticle 3 of the Order concerns advertisements which are issued or caused to be issued by a body corporate other than an open-ended investment company where particular investments issued by the body corporate or its holding company are traded or dealt in on a market of the kind referred to in the article or where the advertisement consists of or is accompanied by documents of a kind described in the article. The article specifies certain conditions with which the advertisement must comply if it is to benefit from the exemption.\nArticle 4 of the Order concerns advertisements relating to bearer securities which are issued or caused to be issued by a body corporate other than an open-ended investment company. The article specifies certain conditions with which the advertisement must comply if it is to benefit from the exemption.\nArticle 5 of the Order replaces article 3 of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1988. It concerns advertisements issued by a body corporate to its members or creditors.\nArticle 6 of the Order amends article 9 of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order in various respects. Article 9 of the 1988 Order concerns advertisements issued only to certain persons who may be regarded as sufficiently expert to understand the risks involved.\nArticle 7 of the Order concerns advertisements relating to publications or programmes which contain advice which does not fall within paragraph 15 of Schedule 1 to the Financial Services Act 1986 by virtue of the provisions of paragraph 25 or 25A of that Schedule.\nArticle 8 of the Order concerns advertisements relating to the facilities offered by a market referred to in the article.\nArticle 9 of the Order concerns advertisements relating to shares in a private company established to manage the fabric or common parts of residential property or to supply services to such property.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/274/note",
    "retrieved_at": "2026-10-29T14:29:30.665516+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}