1. For the purposes of this Regulation, the following definitions apply:

(1) "investment firm" has the meaning given in paragraph 1A;

(2) "investment services and activities" means any of the services and activities listed in Part 3 of Schedule 2 to the Regulated Activities Order, relating to any of the instruments listed in Part 1 of Schedule 2 to that Order;

(3) "ancillary services" means any of the services listed in Part 3A of Schedule 2 to the Regulated Activities Order;

(4) "execution of orders on behalf of clients" means acting to conclude agreements to buy or sell one or more financial instruments on behalf of clients and includes the conclusion of agreements to sell financial instruments issued by an investment firm or a credit institution at the moment of their issuance;