(1) Providing basic advice to a retail consumer on a stakeholder product is a specified kind of activity.
(2) For the purposes of paragraph (1), a person ("P") provides basic advice when -
(a) he asks a retail consumer questions to enable him to assess whether a stakeholder product is appropriate for that consumer; and
(b) relying on the information provided by the retail consumer P assesses that a stakeholder product is appropriate for the retail consumer and -
(i) describes that product to that consumer;
(ii) gives a recommendation of that product to that consumer; and
(c) the retail consumer has indicated to P that he has understood the description and the recommendation in sub-paragraph (b).
(3) In this article -
"retail consumer" means any person who is advised by P on the merits of opening or buying a stakeholder product in the course of a business carried on by P and who does not receive the advice in the course of a business carried on by him;
"stakeholder product" means -
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