PART II SPECIFIED ACTIVITIES
Chapter XIIAdvising on Investments
The activity
F1Advising on regulated mortgage contracts53A
1
Advising a person is a specified kind of activity if the advice—
a
is given to the person in his capacity as a borrower or potential borrower; and
b
is advice on the merits of his doing any of the following—
i
entering into a particular regulated mortgage contract, or
ii
varying the terms of a regulated mortgage contract entered into by him after the coming into force of article 61 in such a way as to vary his obligations under that contract.
2
In this article, “borrower” has the meaning given by article 61(3)(a)(i).