PART II SPECIFIED ACTIVITIES

Chapter XIIAdvising on Investments

The activity

F1Advising on regulated credit agreements for the acquisition of land53DA

1

Advising a person (“P”) is a specified kind of activity if—

a

the advice is given to P in P's capacity as a recipient of credit, or potential recipient of credit, under a regulated credit agreement;

b

P intends to use the credit to acquire or retain property rights in land or in an existing or projected building; and

c

the advice consists of the provision of personal recommendations to P in respect of one or more transactions relating to regulated credit agreements F2entered into, or to be entered into, on or after 21st March 2016.

F32

In this article—

a

a reference to any land or building—

i

in relation to an agreement entered into before IP completion day, is a reference to any land or building in the United Kingdom or within the territory of an EEA State;

ii

in relation to an agreement entered into on or after IP completion day, is a reference to any land or building in the United Kingdom;

b

“regulated credit agreement” has the meaning given by article 60B(3).