(1) For the purposes of this Chapter, the following activities are permitted business activities but only if carried out in accordance with this Act -

(a) providing mortgage credit, dealing in and holding mortgage credit assets and providing group mortgage trust services,

(b) dealing in and holding substitution assets,

(c) dealing in and holding assets of a kind that, in accordance with a requirement of the Authority made under the supervisory enactments, designated mortgage credit institutions are required to hold for regulatory purposes,

(d) dealing in and holding credit transaction assets,

(e) [deleted]

(f) engaging in activities connected with financing or refinancing assets or activities permitted by this subsection,

(g) entering into contracts in accordance with section 30 for the purpose of hedging risks associated with any other activity of a kind mentioned in paragraphs (a) to (f) and dealing in and holding pool hedge collateral, and