PART II SPECIFIED ACTIVITIES

Chapter XIIAdvising on Investments

Exclusions

F1Advice given in the course of administration by authorised person54A.

F2(1)

A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53A by reason of—

(a)

anything done by an authorised person (“B”) in relation to a regulated mortgage contract which B is administering pursuant to arrangements of the kind mentioned in article 62(a); or

(b)

anything A does in connection with the administration of a regulated mortgage contract in circumstances falling within article 62(b).

F3(2)

A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53B by reason of—

(a)

anything done by an authorised person (“B”) in relation to a regulated home reversion plan which B is administering pursuant to arrangements of the kind mentioned in article 63C(a); or

(b)

anything A does in connection with the administration of a regulated home reversion plan in circumstances falling within article 63C(b).

(3)

A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53C by reason of—

(a)

anything done by an authorised person (“B”) in relation to a regulated home purchase plan which B is administering pursuant to arrangements of the kind mentioned in article 63G(a); or

(b)

anything A does in connection with the administration of a regulated home purchase plan in circumstances falling within article 63G(b).

F4(4)

A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53D by reason of

(a)

anything done by an authorised person (“B”) in relation to a regulated sale and rent back agreement which B is administering pursuant to arrangements of the kind mentioned in article 63K(a); or

(b)

anything A does in connection with the administration of a regulated sale and rent back agreement in circumstances falling within article 63K(b).

F5(5)

A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53DA by reason of—

(a)

anything done by an authorised person (“B”) in relation to a regulated credit agreement which B is administering pursuant to arrangements of the kind mentioned in article 60I(a) (arranging administration by authorised person); or

(b)

anything A does in connection with the administration of a regulated credit agreement in circumstances falling within article 60I(b).