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participant firm

  1. (1) (except in COMP 13) a firm or a member 16 other than:
    1. (a) (in accordance with section 213(10) of the Act (The compensation scheme) and regulation 2 of the Electing Participants Regulations (Persons not to be regarded as relevant persons) an incoming EEA firm which is:
      1. (i) a credit institution ;
      2. (ii) an ISD investment firm ; or
      3. (iii) a UCITS management company; 16
      4. (iv) both (i) and (ii); or16
      5. (v) an IMD insurance intermediary or an IMD reinsurance intermediary which is neither (i) or (ii);16
      in relation to its passported activities, unless it has top-up cover (and in the case of a UCITS management company , only in relation to the services referred to in Article 5(3) of the UCITS Directive , that is managing investments (other than of a collective investment scheme), advising on investments or safeguarding and administering investments);
    2. (b) a service company;
    3. (c) [deleted]
    4. (d) [deleted]
    5. (e) an underwriting agent , or members' adviser , in respect of advising on syndicate participation at Lloyd's or managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's;
    6. (f) an authorised professional firm that is subject to the rules of the Law Society (England and Wales) or the Law Society of Scotland;
    7. (g) an ICVC;
    8. (h) a UCITS qualifier;
    9. (i) an ELMI in relation to issuing e-money.
  2. (2) (in COMP 13) a firm specified in paragraph (1) above that is not a member.546121516