The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment No. 2) Order 2007

• Citation: S.I. 2007/2615
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment No. 2) Order 2007 and comes into force on 1st October 2007.

Section 2 Amendment of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

(1) Article 70 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (promotions included in listing particulars etc. ) is amended as follows.

(2) For article 70(1)(c) substitute—

(c) a prospectus or supplementary prospectus approved—

(i) by the competent authority in accordance with Part 6 of the Act; or

(ii) by the competent authority of an EEA State other than the United Kingdom, provided the requirements of section 87H of the Act have been met,

or part of such a prospectus or supplementary prospectus; or

(3) After article 70(1) insert—

(1A) The financial promotion restriction does not apply to any non-real time communication—

(a) comprising the final terms of an offer or the final offer price or amount of securities which will be offered to the public; and

(b) complying with Articles 5(4), 8(1) and 14(2) of the prospectus directive.