(1) Any person who immediately before 1st November 2007 had a Part IV permission containing a limitation or requirement -
(a) in relation to the carrying on of any regulated activity except an activity mentioned in paragraph (2); and
(b) described by reference to a category of clients specified in the first column in the table in Schedule 9,
is from 1st November 2007 to be treated as having a Part IV permission to carry on that regulated activity subject to the same limitation or requirement described by reference to the category of clients specified in the second column of that table opposite.
(2) The activities are -
(a) an insurance mediation activity (within the meaning of paragraph 2(5) of Schedule 6 to the Act) carried on in relation to a contract of insurance (within the meaning of article 3(1) of the principal Order) which is not a life policy (within the meaning of the Glossary (Conduct of Business and Other Sourcebooks) Instrument 2007 (2007/32) made by the Authority und