xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

PART IIU.K. SPECIFIED ACTIVITIES

Chapter IVU.K.Dealing in Investments as Principal

ExclusionsU.K.

[F1Transformer vehicles: insurance risk transformationU.K.

19A.  A transformer vehicle does not carry on an activity of a kind specified by article 14 by assuming a risk from an undertaking, provided the assumption of the risk is a specified kind of activity falling within article 13A (transformer vehicles: insurance risk transformation).]