(1) A person (“A”) must not, in the course of business, communicate an invitation or inducement[—
(a)] to engage in investment activity[, or
(b) to engage in claims management activity].
(2) But subsection (1) does not apply if—
(a) A is an authorised person; or
(b) the content of the communication is approved for the purposes of this section by an authorised person.
(3) In the case of a communication originating outside the United Kingdom, subsection (1) applies only if the communication is capable of having an effect in the United Kingdom.
<(4) The Treasury may by order specify circumstances in which a person is to be regarded for the purposes of subsection (1) as—<
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