(1) For the purposes of sections 1G, 404E and 425A of the Act (meaning of "consumer") [Section 1G was inserted by the Financial Services Act 2012, section 6. Section 404E was inserted by the Financial Services Act 2010, section 14, and amended by S.I. 2011/99. Section 425A was inserted by the Financial Services Act 2010, Schedule 2, paragraphs 1 and 32, and amended by S.I. 2013/655.], a person ("C") is only to be regarded as a person who uses, may use, has, may have used or has or may have contemplated using, services provided by authorised persons in carrying on a regulated activity of the kind specified by article 36H or article 64 in so far as relevant to that activity if -
(a) C is, may be, has been or may have been the lender under a relevant agreement and is an individual or relevant person, or
(b) C is, may be, has been or may have been the borrower under a relevant agreement, C is an individual or relevant person and one of the conditions in paragraph (2) is satisfied, or
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