Regulations 4(1)(e) and (2), 13(6) and (8) and 14(5).
Financial activity on an occasional or very limited basis
1. For the purposes of regulation 4(1)(e) and (2), a person is to be considered as engaging in financial activity on an occasional or very limited basis if all the following conditions are fulfilled -
(a) the person's total annual turnover in respect of the financial activity does not exceed £64,000;
(b) the financial activity is limited in relation to any customer to no more than one transaction exceeding 1,000 euro, whether the transaction is carried out in a single operation, or a series of operations which appear to be linked;
(c) the financial activity does not exceed 5% of the person's total annual turnover;
(d) the financial activity is ancillary and directly related to the person's main activity;
(e) the financial activity is not the transmission or remittance of money (or any representation of monetary value) by any means;
(f) the person's main activity is not