(1) Before 1 January 2027, designated activity rules made by virtue of regulation 6 do not apply to a person listed in paragraph (2) where the conditions in paragraph (3) are met.
(2) The persons referred to in paragraph (1) are -
(i) the management company (as defined in section 237(2) of FSMA 2000 [The definition of "management company" was substituted by S.I. 2019/325.]) of a UK UCITS;
(ii) an authorised open-ended investment company which is a UK UCITS;
(iii) a person advising on a UK UCITS where the advice is given to -
(aa) a retail investor located in the United Kingdom, or
(bb) an agent for that investor;
(iv) a person offering or selling units of a UK UCITS to a retail investor located in the United Kingdom;
(i) the management company (as defined in point (b) of Article 2(1) of the UCITS Directive) of an EEA UCITS;
(ii) an investment company referred to in Article 27 of the UCITS Directive (conditions for an investment company);
(iii) a p
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