Advertisements issued to persons sufficiently expert to understand the risks involved
6. Article 9 of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1988(1) shall be amended by—
(a)the substitution in paragraph (2)(a) of the following for the words “in the United Kingdom”—
“, other than persons to whom the advertisement may otherwise lawfully be issued,”;
(b)the deletion of the words “in the United Kingdom” in paragraph (2)(b) and the insertion, in that paragraph, of the following words after the words “except to persons”—
“to whom the advertisement may otherwise lawfully be issued or who are”; and
(c)by the addition at the end of article 9(3)(g) of the following—
“; or
(h)any trustee of a trust where the aggregate value of the cash and investments which form part of the trust’s assets (before deducting the amount of its liabilities) is £10 million or more or has been £10 million or more at any time during the previous two years.”.
S.I. 1988/316.