PART II SPECIFIED ACTIVITIES

Chapter VIArranging Deals in Investments

The activities

Arranging deals in investments25.

(1)

Making arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite a particular investment which is—

(a)

a security,

(b)

a F1relevant investment, or

(c)

an investment of the kind specified by article 86, or article 89 so far as relevant to that article,

is a specified kind of activity.

(2)

Making arrangements with a view to a person who participates in the arrangements buying, selling, subscribing for or underwriting investments falling within paragraph (1)(a), (b) or (c) (whether as principal or agent) is also a specified kind of activity.

F2(3)

Paragraphs (1) and (2) do not apply to a kind of activity to which article 25D applies.

F3Arranging regulated mortgage contracts25A.

(1)

Making arrangements—

(a)

for another person to enter into a regulated mortgage contract as borrower; or

(b)

for another person to vary the terms of a regulated mortgage contract entered into by him as borrower after the coming into force of article 61, in such a way as to vary his obligations under that contract,

is a specified kind of activity.

(2)

Making arrangements with a view to a person who participates in the arrangements entering into a regulated mortgage contract as borrower is also a specified kind of activity.

(3)

In this article “borrower” has the meaning given by article 61(3)(a)(i).

F4Arranging regulated home reversion plans25B.

(1)

Making arrangements—

(a)

for another person to enter into a regulated home reversion plan as reversion seller or as plan provider; or

(b)

for another person to vary the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him as reversion seller or as plan provider, in such a way as to vary his obligations under that plan,

is a specified kind of activity.

(2)

Making arrangements with a view to a person who participates in the arrangements entering into a regulated home reversion plan as reversion seller or as plan provider is also a specified kind of activity.

F4Arranging regulated home purchase plans25C.

(1)

Making arrangements—

(a)

for another person to enter into a regulated home purchase plan as home purchaser; or

(b)

for another person to vary the terms of a regulated home purchase plan, entered into on or after 6th April 2007 by him as home purchaser, in such a way as to vary his obligations under that plan,

is a specified kind of activity.

(2)

Making arrangements with a view to a person who participates in the arrangements entering into a regulated home purchase plan as home purchaser is also a specified kind of activity.

F5Operating a multilateral trading facility25D.

(1)

The operation of a multilateral trading facility on which MiFID instruments are traded is a specified kind of activity.

(2)

In paragraph (1), “MiFID instrument” means any investment—

(a)

of the kind specified by article 76, 77, 78, 79, 80, 81, 83, 84 or 85; or

(b)

of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),

that is a financial instrument.

F6Arranging regulated sale and rent back agreements25E.

(1)

Making arrangements—

(a)

for another person to enter into a regulated sale and rent back agreement as an agreement seller or as an agreement provider; or

(b)

for another person (“A”) to vary the terms of a regulated sale and rent back agreement, entered into on or after 1st July 2009 by A as agreement seller or agreement provider, in such a way as to vary A’s obligations under that agreement,

is a specified kind of activity.

(2)

Making arrangements with a view to a person who participates in the arrangements entering into a regulated sale and rent back agreement as agreement seller or agreement provider is also a specified kind of activity.