[86 Exempt offers to the public [and admissions to trading]]

[86  Exempt offers to the public [and admissions to trading]]

[(1)     A person does not contravene section 85(1) if—

[(aa)     the offer falls within Article 1(4) of the prospectus regulation; or]

(e)     the total consideration for the transferable securities being offered [in the United Kingdom] cannot exceed [8,000,000] euros (or an equivalent amount)[; . . .

(f)     . . .].

[(1A)     . . .. . .]

[(1B)     . . .. . .]

(2)     Where—

(a)     a person [(“the client”) who is not a qualified investor (as defined in . . . Article 2(e) of the prospectus regulation)] has engaged a qualified investor falling within [paragraph 3(a) of Schedule 1 to the markets in financial instruments regulation] to act

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