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oil market activity

  1. (a) any regulated activity in relation to an35 oil investment 35 or to oil, or in relation to a biofuel investment, biofuel, a biomass investment or biomass that is ancillary to activities related to oil investments or oil,35 which:
    1. (i) is the executing of own account transactions on any recognised investment exchange or designated investment exchange; or
    2. (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
  2. (b) establishing, operating or winding up a collective investment scheme which is an oil collective investment scheme in which individuals do not participate.4211