[22 Regulated activities]
[22 Regulated activities]

(1)     An activity is a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way of business and—

(a)     relates to an investment of a specified kind; or

(b)     in the case of an activity of a kind which is also specified for the purposes of this paragraph, is carried on in relation to property of any kind.

[(1A)     An activity is also a regulated activity for the purposes of this Act if it is an activity of a specified kind which is carried on by way

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