PART VIExempt Communications: Certain Controlled Activities

Industrial and provident societies35

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.