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The Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1995
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- UK Statutory Instruments
- 1995 No. 1266
- SCHEDULE 4
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Article 12
SCHEDULE 4ADVERTISEMENTS RELATING TO MATTERS OF COMMON INTEREST
1. An advertisment complies with the requirements of this Schedule if it complies with the requirements of paragraphs 2, 3 and 4 below.
2. An advertisement complies with the requirements of this paragraph if it contains a statement made by the directors or the persons named therein as promoters of the company accepting responsibility therefor without any limitation of liability on the basis that they have taken all reasonable care to ensure that every statement whether of fact or opinion which it contains is true and not misleading in the form and context in which it is included.
3. An advertisement complies with the requirements of this paragraph if it contains either—
(a)a statement by the directors or the persons named therein as promoters of the company also accepting responsibility therefor without any limitation of liability that they have taken all reasonable care to ensure that the document contains all such information as a person such as the person or persons to whom the advertisement is addressed and their professional advisers would reasonably require and reasonably expect to find there for the purpose of making an informed assessment of the assets and liabilities, financial position, profits and losses, and prospects of the company and the rights attaching to the shares or debentures to which the document relates; or
(b)the words “you should regard any subscription for shares in or debentures of this company as made primarily to assist the furtherance of its objectives (other than any purely financial objectives) and only secondarily, if at all, as an investment”.
4. An advertisement complies with the requirements of this paragraph if it contains prominently the words “If you are in any doubt about this offer you should consult a person authorised under the Financial Services Act 1986 who specialises in advising on investments of the kind being offered” or other words to a like effect.
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