(1) There is excluded from the provisions listed in paragraph (2) any activity carried on by a person acting as an insolvency practitioner.
(2) The provisions are -
(a) article 14 (dealing in investments as principal);
(b) article 21 (dealing in investments as agent);
(c) article 25 (arranging deals in investments);
(d) article 25D (operating a multilateral trading facility);
(da) article 25DA (operating an organised trading facility);
(e) article 37 (managing investments);
(f) article 39A (assisting in the administration and performance of a contract of insurance);
(g) article 39D (debt adjusting);
(h) article 39E (debt-counselling);
(i) article 39F (debt-collecting);
(j) article 39G (debt administration);
(k) article 40 (safeguarding and administering investments);
(l) article 45 (sending dematerialised instructions);
(m) article 51ZA (managing a UK UCITS);
(n) article 51ZB (acting as trustee or depositary of a UK UCITS);
(o) article 51ZC (managing an AIF);
(p) article 51ZD (acting a
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