(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 public credit and dealing in and holding public credit assets;

(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 public 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 of a kind mentioned in paragraphs (a) to (e) and other activities permitted by this subsection;

(g) entering into contracts in accordance with section 45 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