27. In regulation 55 (finance: exceptions from prohibitions)—
(a)omit paragraph (6);
(b)in paragraph (7), for the definition of “relevant institution” substitute—
““relevant institution” means—
a person who is licensed under the Financial Services Act 2008 (of Tynwald)(1) to carry on a regulated activity within the meaning of section 3 of that Act,
a person who is authorised or registered under the Insurance Act 2008 (of Tynwald)(2) or who holds a permit under that Act,
a person who is registered under the Moneylenders Act 1991 (of Tynwald)(3) to carry on the business of lending money, or
a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2000 (of Tynwald)(4).”;
(c)omit paragraph (8).
AT 8 of 2008.
AT 16 of 2008.
AT 6 of 1991.
AT 14 of 2000.