PART VIExempt Communications: Certain Controlled Activities
F1Credit agreements offered to employees by employers72F
1
The financial promotion restriction does not apply to any communication which is made to an employee by or on behalf of a person in relation to an exempt staff loan.
2
In this article, “an exempt staff loan” means a credit agreement within the meaning of article 60B (regulated credit agreements) of the Regulated Activities Order which is—
F2a
offered by a lender to a borrower as an incident of employment with the lender, or with an undertaking in the same group as the lender; and
b
an exempt agreement for the purposes of Chapter 14A (regulated credit agreements) of the Regulated Activities Order by virtue of a provision of article 60G (exempt agreements: exemptions relating to the total charge for credit) of that Order other than paragraph (2) of that article.