{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-financial-promotion-order-2005/article-40",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-financial-promotion-order-2005/article-40.json",
  "legislation": "uksi/2005/1529",
  "legislation_title": "The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-financial-promotion-order-2005",
  "path": "article/40",
  "kind": "article",
  "number": "40",
  "heading": "Participants in certain recognised collective investment schemes",
  "text": "The financial promotion restriction does not apply to any non-real time communication or solicited real time communication which is made—\n(a) by a person who is the operator of a scheme recognised under section 271A or section ...272 of the Act; and\n(b) to persons in the United Kingdom who are participants in any such recognised scheme operated by the person making the communication,\nand which relates only to such recognised schemes as are operated by that person or to units in such schemes.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in art. 40(a) inserted (26.2.2024) by The Financial Services Act 2021 (Overseas Funds Regime and Recognition of Parts of Schemes) (Amendment and Modification) Regulations 2024 (S.I. 2024/114), regs. 2, 10"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in art. 40(a) omitted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 19(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Art. 40 modified (26.2.2024) by The Financial Services Act 2021 (Overseas Funds Regime and Recognition of Parts of Schemes) (Amendment and Modification) Regulations 2024 (S.I. 2024/114), regs. 2, 11(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/1529/article/40",
    "retrieved_at": "2026-10-29T04:57:52.457126+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."
}