3.—(1) A person (“P”) must not directly or indirectly purchase, sell, provide brokering or assistance in the issuance of, or otherwise deal with transferable securities or money-market instruments with a maturity exceeding 90 days, issued after 1 August 2014 by a person, entity or body falling within paragraph (2).
(2) The following persons, entities or bodies fall within this paragraph—
(a)a major credit institution or other major institution listed in Annex III to the Council Regulation,
(b)a legal person, entity or body established outside the European Union, more than 50% of the proprietary rights of which are owned by a legal person, entity or body falling within sub-paragraph (a),
(c)a legal person, entity or body acting on behalf of, or at the direction of, a legal person, entity or body falling within sub-paragraphs (a) or (b).