72H.—(1) There is excluded from the provisions listed in paragraph (2) any activity carried on by a person acting as an insolvency practitioner.
(2) The provisions are—
(a)article 14 (dealing in investments as principal);
(b)article 21 (dealing in investments as agent);
(c)article 25 (arranging deals in investments);
(d)article 25D (operating a multilateral trading facility);
(e)article 37 (managing investments);
(f)article 39A (assisting in the administration and performance of a contract of insurance);
(g)article 39D (debt adjusting);
(h)article 39E (debt-counselling);
(i)article 39F (debt-collecting);
(j)article 39G (debt administration);
(k)article 40 (safeguarding and administering investments);
(l)article 45 (sending dematerialised instructions);
(m)article 51ZA (managing a UCITS);
(n)article 51ZB (acting as trustee or depositary of a UCITS);
(o)article 51ZC (managing an AIF);
(p)article 51ZD (acting as trustee or depositary of an AIF);
(q)article 51ZE (establishing etc. a collective investment scheme);
(r)article 52 (establishing etc. a pension scheme);
(s)article 53 (advising on investments);
(t)article 89A (providing credit information services).
(3) There is excluded from articles 39D, 39E and 89A any activity carried on by a person acting in reasonable contemplation of that person’s appointment as an insolvency practitioner.
(4) There is excluded from article 64 any agreement made by a person acting as an insolvency practitioner to carry on an activity of the kind excluded by paragraph (1).
(5) There is excluded from article 64 any agreement made by a person acting in reasonable contemplation of that person’s appointment as an insolvency practitioner to carry on an activity of the kind excluded by paragraph (3).]