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60.—(1) The financial promotion restriction does not apply to any communication by a person (“C”), a member of the same group as C or a relevant trustee where the communication is for the purposes of an employee share scheme and relates to any of the following investments issued by C—
(a)investments falling within paragraph 14 or 15 of Schedule 1;
(b)investments falling within paragraph 17 or 18 of that Schedule so far as relating to any investments within sub-paragraph (a); or
(c)investments falling within paragraph 27 so far as relating to any investments within sub-paragraph (a) or (b).
(2) “Employee share scheme”, in relation to any investments issued by C, means arrangements made or to be made by C or by a person in the same group as C to enable or facilitate—
(a)transactions in those investments between or for the benefit of—
(i)the bona fide employees or former employees of C or of another member of the same group as C;
(ii)the wives, husbands, widows, widowers, or children or step children under the age of eighteen of such employees or former employees; or
(b)the holding of those investments by, or for the benefit of, such persons.
(3) “Relevant trustee” means a person who, in pursuance of an actual or proposed employee share scheme, holds as trustee or will hold as trustee investments issued by C.
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