• Part 1 Part 1 General

    • 1. General

      For the purposes of this Schedule, a transaction is entered into through a person if he enters into it as agent or arranges, in a manner constituting the carrying on of an activity of the kind specified by paragraph 16(1), for it to be entered into by another person as agent or principal.

    • 2. Specification of activities and investments

      (1) The following provisions of this Schedule specify kinds of activity for the purposes of section 19. Accordingly any activity of one of those kinds, which relates to an investment of a kind specified by any provision of Part 3 and applicable to that activity, is a Regulated Activity for the purposes of these Regulations.
      (2) The kinds of activity specified by paragraphs 36, 43, 46, 52, 59, 60 61, 64(2), 65, 67, 68 and 72 are also specified for the purposes of section 19. Accordingly any activity of one of those kinds is a Regulated Activity (irrespective of the kind of property to which it relates and whether or not it is carried on in relation to property of any kind).
      (3) Each provision specifying a kind of activity is subject to the exclusions applicable to that provision (including under Chapter 18). Accordingly any reference in this Schedule to an activity of the kind specified by a particular provision is to be read subject to any such exclusions.

    • 3. By way of Business

      (1) For the purpose of these Regulations, a person carries on an activity by way of business if the person —
      (a) engages in the activity in a manner which in itself constitutes the carrying on of a business;
      (b) holds himself out as willing and able to engage in that activity; or
      (c) regularly solicits other persons to engage with him in transactions constituting that activity.