(1) A company is not entitled to take advantage of any of the provisions of this Part relating to companies qualifying as medium-sized if it was at any time within the financial year in question -
(i) has permission under Part 4A of the Financial Services and Markets Act 2000 (c. 8) to carry on a regulated activity,
(ii) carries on insurance market activity, or
(iii) is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 or section 39(1) of the Pension Schemes Act (Northern Ireland) 2021 (interpretation of Part 1), or
(ba) an e-money issuer, or
(c) a member of an ineligible group.
(2) A group is ineligible if any of its members is -
(b) a body corporate (other than a company) whose shares are admitted to trading on a UK regulated market,
(c) a person (other than a small company) who has permission under Part 4A of the Financial Services and Markets Act 2000 t
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