(1) An investment firm authorised to -
(a) execute orders on behalf of clients,
(b) deal on own account, or
(c) receive and transmit orders,
may bring about or enter into transactions with eligible counterparties without being obliged to comply with Regulations 76 to 101, 106, 108(1), 151 and 154(2) to (3).
(2) Notwithstanding the definition of "eligible counterparties" in Regulation 3, an entity that is an eligible counterparty under that definition -
(a) may request an investment firm, either on a general form or on a trade-by-trade basis, to allow the entity to be treated under these Regulations as a client of an investment firm whose business with the investment firm is subject to Regulations 76 to 101, 106, 108(1), 151 and 154(2) to (3) and
(b) if the investment firm accedes to the request, the entity shall be treated under these Regulations as set out in subparagraph (a).
(3) A client may be considered as an eligible counterparty if it is in a category of clients who are to