In the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 [S.I. 2001/1177; article 3A was inserted by S.I. 2003/1475 and articles 3B and 3C were inserted by S.I. 2006/2383.] after article 3C (arranging and advising on regulated home purchase plans) insert -

"3D. Arranging and advising on regulated sale and rent back agreements

A person is not to be regarded as carrying on by way of business an activity specified by -

(a) article 25E of the Regulated Activities Order (arranging regulated sale and rent back agreements);

(b) article 53D of that Order (advising on regulated sale and rent back agreements); or

(c) article 64 of that Order (agreeing), so far as relevant to either of the articles mentioned in sub-paragraphs (a) and (b),

unless that person carries on the business of engaging in that activity.".