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(1) (except in relation to a class of contract of insurance) any kind of loan, deferment of repayment of any loan or of interest on any loan, guarantee or indemnity, and any other kind of accommodation or facility in the nature of credit.
(2) (in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 14 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), against risks of loss to the persons insured arising from the insolvency of debtors of theirs or from the failure (otherwise than through insolvency) of debtors of theirs to pay their debts when due.3
