PART II SPECIFIED ACTIVITIES

Chapter IVDealing in Investments as Principal

The activity

Dealing in investments as principal14

F11

Buying, selling, subscribing for or underwriting securities or contractually based investments (other than investments of the kind specified by article 87, or article 89 so far as relevant to that article) as principal is a specified kind of activity.

F22

Paragraph (1) does not apply to a kind of activity to which article 25D applies.