(1) Advising a person is a specified kind of activity if the advice -
(a) is given to the person in his capacity as a borrower or potential borrower; and
(b) is advice on the merits of his doing any of the following -
(i) entering into a particular regulated mortgage contract, or
(ii) varying the terms of a regulated mortgage contract falling within paragraph (1A) entered into by him in such a way as to vary his obligations under that contract.
(1A) A regulated mortgage contract falls within this paragraph if -
(a) the contract was entered into on or after 31st October 2004; or
(b) the contract -
(i) was entered into before 31st October 2004; and
(ii) was a regulated credit agreement immediately before 21st March 2016.
(2) In this article, "borrower" has the meaning given by article 61(3)(a)(i).