Section 29 of the Act of 1997 is amended by the insertion of the following subsection after subsection (4):

"(5) For the purposes of this Act -

(a) the National Asset Management Agency and a NAMA group entity (within the meaning of the National Asset Management Agency Act 2009) shall not be treated as carrying on a regulated business as a credit servicing firm,

(b) an excepted person shall not be treated as carrying on a regulated business as a debt management firm,

(c) a person referred to in paragraphs (a) to (g) of the definition of 'retail credit firm' in section 28(1) shall not be treated as carrying on a regulated business as a retail credit firm, and

(d) a securitisation special purpose entity referred to in section 28(2A) or (2B) shall not be treated as carrying on a regulated business as a retail credit firm.".