Section 10(3)

For the purposes of paragraph (2)(a), the institutions referred to are— a credit institution; an undertaking whose only listed activity is as a creditor under an agreement which— falls within section 12(a) of the Consumer Credit Act 1974 (debtor-creditor-supplier agreements); provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and provides financial accommodation by way of deferred payment or payment by instalments over a period not exceeding 12 months; an undertaking whose only listed activity is trading for its own account in one or more of the products listed in point 7 of ... Schedule 2 where the undertaking does not have a customer (and, for this purpose, “customer” means a person other than the undertaking which is not a member of the same group as the undertaking).

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Source: legislation.gov.uk · retrieved 2026-09-04