(1)Item 1 does not include anything included in item 6.
[F1(1A)Item 1 does not include a supply of services which is preparatory to the carrying out of a transaction falling within that item.]
(2)This Group does not include the supply of a coin or a banknote as a collectors’ piece or as an investment article.
[F2(2A)This Group does not include a supply of services comprising the management of credit, other than such a supply made by the person granting the credit.
(2B)For the purposes of this Group a person makes “a supply of services comprising the management of credit” if he performs any one or more of the following in relation to a credit, a credit card, a chargecard or a similar payment card, operation—
(a)credit checking;
(b)valuation;
(c)authorisation services;
(d)taking decisions relating to a grant or an application for a grant of credit;
(e)creating and maintaining records relating to a grant or an application for a grant of credit on behalf of the credit provider; and
(f)monitoring a creditor’s payment record or dealing with overdue payments.]
(3)Item 2 includes the supply of credit by a person, in connection with a supply of goods or services by him, for which a separate charge is made and disclosed to the recipient of the supply of goods or services.
(4)This Group includes any supply by a person carrying on a credit card, charge card or similar payment card operation made in connection with that operation to a person who accepts the card used in the operation when presented to him in payment for goods or services.
[F3(5)For the purposes of item 5 “intermediary services” consist of bringing together, with a view to the provision of financial services—
(a)persons who are or may be seeking to receive financial services, and
(b)persons who provide financial services,
together with (in the case of financial services falling within item 1, 2, 3 or 4) the performance of work preparatory to the conclusion of contracts for the provision of those financial services, but do not include the supply of any market research, product design, advertising, promotional or similar services or the collection, collation and provision of information in connection with such activities.
(5A)For the purposes of item 5 a person is “acting in an intermediary capacity” wherever he is acting as an intermediary, or one of the intermediaries, between—
(a)a person who provides financial services, and
(b)a person who is or may be seeking to receive financial services,
unless the financial service in question is the grant of credit and he is also making supplies of services comprising the management of credit to the grantor, or prospective grantor, of the credit.
(5B)For the purposes of notes 5 and 5A “financial services” means the carrying out of any transaction falling within item 1, 2, 3, 4 or 6.]
(6)In item 9—
(a)“authorised unit trust scheme” and “operator” have the same meanings as in section 207(1) of the M1Financial Services Act 1986;
(b)“trust based scheme” has the same meaning as in regulation 2(1)(b) of the M2Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989.
[F4(7)For the purposes of item 10, a person is an authorised corporate director of an open-ended investment company if for the time being that person—
(a)is a director of the company, and
(b)has responsibility for the management of, and is managing, the company’s scheme property.
(8)For the purposes of item 10 and Note (7), an open-ended investment company’s scheme property is the property subject to the collective investment scheme constituted by that company.
(9)In Note (7) “director”, in relation to an open-ended investment company, includes a person occupying in relation to it the position of director (by whatever name called).
(10)For the purposes of this Group, “collective investment scheme” and “open-ended investment company” have the meanings given by section 75 of the Financial Services Act 1986 F5.]
Textual Amendments
F1Sch. 9 Pt. II Group 5 Note (1A) inserted (10.3.1999) by S.I. 1999/594, art. 5
F2Sch. 9 Pt. II Group 5 Notes (2A)(2B) inserted (10.3.1999) by S.I. 1999/594, art. 6
F3Sch. 9 Pt. II Group 5 Notes (5)(5A)(5B) substituted (10.3.1999) for Note (5) by S.I. 1999/594, art. 7
F4Sch. 9 Pt. II Group 5 Notes (7)-(10) added (24.3.1997) by S.I. 1997/510, arts. 1, 2(b)
F51986 c.60; section 75 was amended by S.I. 1988/803 and S.I. 1990/349.
Marginal Citations