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durable medium

      1. (a) paper; or122017
      1. (b) 36any instrument which enables the recipient to store information addressed personally to 36112the recipient121 in a way accessible for future reference and112 for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored.1214040404040403640112401220174071In relation to the equivalent business of a third country investment firm, MiFID optional exemption business112 or collective portfolio management, if the relevant rule derives from the MiFID Org Regulation or112 implements the112UCITS Directive, the UCITS implementing Directive or the 71UCITS implementing Directive No 2121 the instrument used must be:36
        1. (i) appropriate to the context in which the business is to be carried on; and36
        1. (ii) specifically 40chosen by the recipient 40when offered the choice between that instrument and paper.36
        In ICOBS and, in relation to life policies, in COBS:121
        1. (iii) the instrument used must be appropriate in the context of the business conducted between the insurance distributor and (for ICOBS) the customer or (for COBS) the client; and121
        1. (iv) the customer (for ICOBS) or client (for COBS) must be given the choice between information on paper and the instrument used, and must specifically choose the latter medium.121
        For the purposes of this definition, the provision of information by means of electronic communications shall be treated as appropriate to the context in which the business between the firm and the client is, or is to be, carried on if there is evidence that the client has regular access to the internet. The provision by the client of an e-mail address for the purposes of the carrying on of that business is sufficient.40[Note: article 2(f) of,112 and Recital 20 to,112 the Distance Marketing Directive, 717140articles 2(1)(18), 23(4) and 23(6) of the IDD,121 article 4(1)(62) of MiFID and article 3(1) of the MiFID Org Regulation112, articles 75(2) and 81(1) of the UCITS Directive, article 20(3) of the UCITS implementing Directive and article 7 of the UCITS implementing Directive No 2]7136