{
  "url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1995/article-5",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1995/article-5.json",
  "legislation": "uksi/1995/1266",
  "legislation_title": "The Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1995",
  "legislation_url": "https://openlegislation.uk/financial-services-act-1986-investment-advertisements-exemptions-order-1995",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Investment advertisements relating to relevant bearer securities issued by body corporate",
  "text": "(1) 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 advertisement—\n(a) is addressed to persons entitled to relevant bearer securities issued by the body corporate or by a related body corporate;\n(b) contains no invitation to persons to enter into an investment agreement other than an invitation relating to relevant securities of a class which consists of or includes the relevant bearer securities or investments in respect of which the relevant bearer securities confer rights and which is capable of being accepted only by persons who are entitled to relevant securities issued by the body corporate or a related body corporate; and\n(c) contains no information relating to any investment which is not a relevant security issued by the body corporate or by a related body corporate.\n(2) 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 advertisement is addressed to persons entitled to relevant bearer securities issued by the body corporate or by a related body corporate and would not otherwise be regarded as an investment advertisement but for the inclusion of information which the authorities of a relevant EEA market or an approved securities market on which relevant securities of a class which consists of or includes the relevant bearer securities are traded or dealt in require or permit be made known to the holders of securities in that class.\n(3) In this article—\n(a) the expressions “holding company” and “subsidiary” have the same meanings as in section 736 of the 1985 Act;\n(b) in relation to a body corporate, the expression “related body corporate” means a body corporate which is not an open-ended investment company but which is either the holding company of or a subsidiary of the first body corporate; and\n(c) relevant bearer securities may be regarded as being in the same class as relevant securities which are not relevant bearer securities.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1985 c. 6. Section 736 of the Companies Act 1985 was inserted by section 144 of the Companies Act 1989 (c. 40)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/1266/article/5",
    "retrieved_at": "2026-10-29T13:09:31.608617+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."
}