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).