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durable medium

  1. (a) paper; or122017
  2. (b) 36any instrument which enables the recipient to store information addressed personally to him36 or her112 in a way accessible for future reference and112 for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored40. 40In particular, durable medium covers 40floppy disks, CD-ROMs, DVDs and 40hard drives of personal computers40on which4036 electronic mail is stored, but 40it excludes internet112 sites, unless such sites meet the criteria specified in the first sentence of this paragraph40.122017(4071In relation to the equivalent business of a third country investment firm, MiFID optional exemption business112 or collective portfolio management, if the relevant rule derives from the MiFID Org Regulation or112 implements the112UCITS Directive, the UCITS implementing Directive or the UCITS implementing Directive No 2)71 the instrument used must be:36
    1. (i) appropriate to the context in which the business is to be carried on; and36
    2. (ii) specifically 40chosen by the recipient 40when offered the choice between that instrument and paper.36
    For the purposes of this definition, the provision of information by means of electronic communications shall be treated as appropriate to the context in which the business between the firm and the client is, or is to be, carried on if there is evidence that the client has regular access to the internet. The provision by the client of an e-mail address for the purposes of the carrying on of that business is sufficient.40
  3. [Note: article 2(f) of,112 and Recital 20 to,112 the Distance Marketing Directive, article 2(12) of the Insurance Mediation Directive71,7140article 4(1)(62) of MiFID and article 3(1) of the MiFID Org Regulation112, articles 75(2) and 81(1) of the UCITS Directive, article 20(3) of the UCITS implementing Directive and article 7 of the UCITS implementing Directive No 2]7136