emission allowances consisting of any units recognised for compliance (by an EEA State) with the requirements of the emission allowance trading directive; and

allowances created under article 18 of the trading scheme order and transferable in accordance with that order.

an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.