Schedule 18, paragraph 3(1)

An investment is also a capital market investment for the purposes of section 72B if it 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 2001, a person who is, when the agreement mentioned in section 72B(1) is entered into, a certified 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, &c.), a person who is, when the agreement mentioned in section 72B(1) is entered into, a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that order, and 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