(1) Subject to paragraph (3), taking steps -
(a) to perform duties under a credit agreement or relevant article 36H agreement on behalf of the lender, or
(b) to exercise or enforce rights under such an agreement on behalf of the lender,
is a specified kind of activity
(2) Subject to paragraph (3), taking steps -
(a) to perform duties under a consumer hire agreement on behalf of the owner, or
(b) to exercise or enforce rights under such an agreement on behalf of the owner,
is a specified kind of activity.
(3) Paragraphs (1) and (2) do not apply in so far as the activity is an activity of the kind specified by article 36H (operating an electronic system in relation to lending) or article 39F (debt-collecting).
(4) In this article, "relevant article 36H agreement" means an article 36H agreement (within the meaning of article 36H) which has been entered into with the facilitation of an authorised person with permission to carry on a regulated activity of the kind specified by that article.