Section 239 | Section 238: supplementary

(1)In section 238 the following expressions are to be interpreted as follows.

(2)“Adequate” means adequate having regard to what it might be reasonable for a client or (as the case may be) an intermediary to expect; and “adequacy” is to be interpreted accordingly.

(3)A person (“C”) is a “client” of a promoter, if at any time when a conduct notice has effect, the promoter—

(a)makes a firm approach to C in relation to a relevant proposal with a view to the promoter making the proposal available for implementation by C or another person;

(b)makes a relevant proposal available for implementation by C;

(c)takes part in the organisation or management of relevant arrangements entered into by C.

(4)The recipient of a conduct notice “promotes” a relevant proposal if it—

(a)takes part in designing the proposal,

(b)makes a firm approach to a person in relation to the proposal with a view to making the proposal available for implementation by that person or another person, or

(c)makes the proposal available for implementation by persons (other than the recipient).

(5)The recipient of a conduct notice “promotes” relevant arrangements if it takes part in designing, organising or managing the arrangements.