[424A Investment firm]

[424A  Investment firm]

[(1)     In this Act, “investment firm” has the meaning given in [paragraph 2.1A of the markets in financial instruments regulation].

(2)     Subsection (1) is subject to [subsection (5)].

[(3)     . . .]


(5)     References in this Act to an “investment firm” do not include references to—

[(a)     a person excluded from the definition of “investment firm” in Article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) by paragraph (a) or (b) of that definition; or

(b)     a firm which has a Part 4A permission to carry on regulated activities as an exempt investment firm

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