If the requirements of paragraph (2) are met, the financial promotion restriction does not apply to any communication which is made by a person in the course of carrying out his duties as an adviser for, or employee of, an advice centre.

In this article—

• “adequate professional indemnity insurance”, in relation to an advice centre, means insurance providing cover that is adequate having regard to—

  1. a

     the claims record of the centre;

  2. b

     the financial resources of the centre; and

  3. c

     the right of clients of the centre to be compensated for loss arising from the negligent provision of financial advice;

• “advice centre” means a body which—

  1. a

     gives advice which is free and in respect of which the centre does not receive any fee, commission or other reward;

  2. b

     provides debt advice as its principal financial services activity; and

  3. c

     in the case of a body which is not part of a local authority, holds adequate professional indemnity insurance or a guarantee providing comparable cover;

• “child trust fund” has the meaning given by section 1(2) of the Child Trust Funds Act 200415;

• “local authority” has the meaning given in article 2 of the Financial Services and Markets Act 2000 (Exemption) Order 200116.