51. The financial promotion restriction does not apply to any non-real time communication or solicited real time communication which—
(a)is made to an association, or to a member of an association, the membership of which the person making the communication believes on reasonable grounds comprises wholly or predominantly persons who are—
(i)certified or self-certified high net worth individuals within the meaning of article 48;
(ii)high net worth persons falling within article 49(2)(a) to (d);
(iii)certified or self-certified sophisticated investors within the meaning of article 50 or 50A; and
(b)relates only to an investment under the terms of which a person cannot incur a liability or obligation to pay or contribute more than he commits by way of investment.