7. Advising a person is a controlled activity if the advice is—
(a)given to the person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and
(b)advice on the merits of his doing any of the following (whether as principal or agent)—
(i)buying, selling, subscribing for or underwriting a particular investment which is a security or a contractually based investment; or
(ii)exercising any right conferred by such an investment to buy, sell, subscribe for or underwrite such an investment.