advising on regulated credit agreements for the acquisition of land

119the regulated activity, specified in article 53DA of the Regulated Activities Order which is, in summary, advising a person if the advice:

1. (a) is given to the person in his capacity as a recipient, or potential recipient, of credit under a regulated credit agreement;
2. (b) the person intends to use the credit to acquire or retain property rights in land or in an existing or projected building; and
3. (c) the advice consists of the provision of personal recommendations to the person in respect of one or more transactions relating to regulated credit agreements.

[Note: article 4(21) of the MCD]