oil market activity
- (a) any regulated activity in relation to an oil investment or to oil which:
- (i) is the executing of own account transactions on any recognised investment exchange or designated investment exchange; or
- (ii) if it is not the executing of transactions on such exchanges, is performed in connection with or for persons who are not individuals; and
- (b) establishing, operating or winding up a collective investment scheme which is an oil collective investment scheme in which individuals do not participate.4211