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PART VI U.K.Exempt Communications: Certain Controlled Activities

Industrial and provident societiesU.K.

35.  The financial promotion restriction does not apply to any communication which—

(a)is a non-real time communication or a solicited real time communication;

(b)is communicated by an industrial and provident society; and

(c)relates only to an investment falling within paragraph 15 of Schedule 1 issued, or to be issued, by the society in question.