3 Scope of Regulations
1 The provisions of these Regulations have effect when a person to whom paragraph (2) below applies gives, in the course of business, an indication of a description to which paragraph (3) below applies.
2 This paragraph applies to any person who operates a bureau de change, that is to say, an enterprise in the course of which he buys from, or sells to, consumers any foreign currency: any act done by him at any premises to which consumers are admitted and at which he does not in any way hold himself out to consumers generally as being prepared to buy or sell any foreign currency.
3 This paragraph applies to any indication to consumers, however given, of an amount in one currency which the person giving the indication will or may buy from, or sell to, a consumer in exchange for an amount of sterling (an “exchange rate indication”) and applies whether or not the rate or amount of any commission or other charge is stated; and these Regulations have effect whether or not the indication constitutes an offer.
4 These Regulations—
(a) have effect in relation to any person whether he is acting as principal or as agent for any person; and
(b) do not have effect in relation to any person solely because he holds himself out as willing to accept, or accepts, payment in a foreign currency for goods, services, accommodation or facilities which he supplies or has supplied.