8. A sum is not a deposit for the purposes of article 5 if it is received by a person who is—
(a)an authorised person with permission to carry on an activity of the kind specified by any of articles 14, 21, 25, 37, 51 and 52, or
(b)an exempt person in relation to any such activity,
in the course of, or for the purpose of, [F1carrying on any such activity (or any activity which would be such an activity but for any exclusion made by this Part)] with or on behalf of the person by or on behalf of whom the sum is paid.
Textual Amendments
F1Words in art. 8 substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 3