75. Relief for intermediaries.

(1) In this section -

'competent authority' has the meaning assigned to it by the Directive;

'Directive' means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 [OJ No. L173, 12.6.2014, p.349] on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU;

'excluded business' means any of the following:

(a) any business which consists in the making or managing of investments;

(b) any business which consists in, or is carried on for the purpose of, providing services to persons who are connected with the person carrying on the business; and the question of whether a person is connected with another person shall be determined in accordance with the provisions of section 10 of the Taxes Consolidation Act 1997;

(c) any business which consists in insurance business, or assurance business within the meaning of section 3 of the Insurance Act 1936;

(d) any business which consists in administering, managing or acting as trustee in

…