1. This Regulation does not apply to transactions, orders or behaviour, in pursuit of monetary, exchange rate or public debt management policy by:

(a) the United Kingdom (including any government department of the United Kingdom);

(b) the Bank of England;

(ba) the Treasury or a person acting on its behalf;

(c) a ministry, any other agency or a special purpose vehicle of -

(i) the United Kingdom; or

(ii) the United Kingdom and one or more Member States;

(ca) a person acting on behalf of a ministry, agency or special purpose vehicle referred to in point (c);

(cb) a subsidiary or special purpose vehicle of the Bank of England;

(d) the Scottish Government, the Welsh Government, or the Northern Ireland Executive;

(e) the Government of Gibraltar;

(f) any special purpose vehicle of the Government of Gibraltar;