Business in the Regulated Sector
(1) A business is in the regulated sector to the extent that it consists of -
(a) the acceptance by a credit institution of deposits or other repayable funds from the public, or the granting by a credit institution of credits for its own account;
(b) the carrying on of one or more of the activities listed in points 2 to 12, 14 and 15 of Schedule 2 to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 by an undertaking other than -
(ia) an undertaking whose only listed activity is as a creditor under an agreement which -
(aa) falls within section 12(a) of the Consumer Credit Act 1974 [1974 c.39.] (debtor-creditor-supplier agreements);
(bb) provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and
(cc) provides financial a
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