51. Exclusions

(1) A person does not Arrange Credit by —
(a) providing means by which one party to a transaction is able to communicate with other such parties;
(b) making arrangements under which another person accepts or is to accept an instrument creating or acknowledging indebtedness in respect of any loan, Credit, guarantee or other similar financial accommodation which he or his principal has made or provided;
(c) making arrangements having as their sole purpose the provision of finance to enable a person to Buy, Sell, subscribe for or underwrite investments; or
(d) making arrangements for the issue or redemption of Securities issued by it.
(2) A person does not Arrange Credit if the activity —
(a) is carried on in the course of carrying on the activities specified in Rules 4 or 5 of the Commercial Licensing Regulations 2015 (Controlled Activities) Rules 2015, which does not otherwise consist of the carrying on of Regulated Activities;
(b) may reasonably be regarded as a necessary part of any other services provided in the course of carrying on the activities specified in those rules; and
(c) is not remunerated separately from the other services.