7. For Note (5) there shall be substituted—
“(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.”.