(b)
the level of risk attached to the investment is such that the investment would not take place unless an exemption is granted;
← art_17__para_1__point_a__text_1 · All articles · art_17__para_1__point_b__text_1 →
Source: EUR-Lex (Cellar) · retrieved 2026-10-29 · Text as adopted (Official Journal); later amendments are not incorporated in this text.