Schedule ZA1, paragraph 14(5)

Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following— an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529); a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a ... high net worth individual in relation to a communication within the meaning of article 48(2) of that Order; a person to whom article 49(2) of that Order applies (high net worth company, etc); a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order; a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.

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Source: legislation.gov.uk · retrieved 2026-09-04