investment professional

(in accordance with article 19(5) of the Financial Promotion Order) (in relation to a financial promotion):

1. (a) an authorised person;
2. (b) an exempt person when the financial promotion relates to a controlled activity which is a regulated activity in relation to which the person is exempt;
3. (c) any other person:
   1. (i) whose ordinary activities involve him in carrying on the controlled activity to which the financial promotion relates for the purposes of a business carried on by him; or
   2. (ii) who it is reasonable to expect will carry on that activity for the purposes of a business carried on by him;
4. (d) a government, a local authority (whether in the United Kingdom or elsewhere) or an international organisation;
5. (e) a person ("A") who is a director, officer or employee of a person ("B") falling within any of (a) to (d) where the financial promotion is made to A in that capacity and where A's responsibilities when acting in that capacity involve him in the carrying on by B of controlled activities.5