Article 3 The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005I1

The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005^f1 is amended as follows.

In article 34 (governments, central banks etc), at the end of paragraph (b)(ii), insert “except for a communication which relates to a regulated credit agreement (within the meaning given in article 60B^f2 of the Regulated Activities Order (regulated credit agreements)) where entering into the agreement, or exercising or having the right to exercise rights under the agreement, constitutes the carrying on of a regulated activity of the kind specified by article 60B of the Regulated Activities Order and the exclusion in article 72G of that Order (local authorities)^f3 does not apply”.

After article 55A (non-real time communication by members of profession), insert—

“Insolvency practitioners

55B.

The financial promotion restriction does not apply to any non-real time communication or solicited real time communication by a person acting as an insolvency practitioner (within the meaning of the Regulated Activities Order) who carries on an activity which would be a regulated activity but for article 72H^f4 of the Regulated Activities Order (insolvency practitioners).”.