SCHEDULE
PART IV PERSONS EXEMPT IN RESPECT OF PARTICULAR REGULATED ACTIVITIES
Enterprise schemes
40
β
1
Any body corporate which has as its principal object (or one of its principal objects)β
a
the promotion or encouragement of industrial or commercial activity or enterprise in the United Kingdom or in any particular area of it; or
b
the dissemination of information concerning persons engaged in such activity or enterprise or requiring capital to become so engaged;
is exempt from the general prohibition in respect of any regulated activity of the kind specified by F4articles 25, 36A, 39D, 39E and 89A of the Regulated Activities Order (arranging deals in investments, credit broking, debt adjusting, debt-counselling and providing credit information services) so long as it does not carry on that activity for, or with the prospect of, direct or indirect pecuniary gain.
2
For the purposes of this paragraph, such sums as may reasonably be regarded as necessary to meet the costs of carrying on the activity mentioned in sub-paragraph (1) do not constitute a pecuniary gain.
F53
This paragraph does not apply where an investment firm or F2qualifying credit institutionβ
a
provides or performs investment services and activities on a professional basis, and