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administering a regulated sale and rent back agreement

    64the regulated activity, specified in article 63J(2) of the Regulated Activities Order, which is in summary any of the following:

      1. (a) notifying the agreement seller of changes in payment due under a regulated sale and rent back agreement or of other matters of which that agreement requires him to be notified;
      1. (b) taking any necessary steps for the purpose of making payments to the agreement seller under that agreement; and
      1. (c) taking any necessary steps for the purposes of collecting or recovering payments due under that agreement from the agreement seller;

    but a person is not to be treated as administering a regulated sale and rent back agreement because he has, or exercises, a right to take action for the purposes of enforcing that agreement (or to require that such action is or is not taken);

    and in relation to a person who acquires obligations or rights under a regulated sale and rent back agreement, an activity is a specified kind of activity for the purposes of this definition only if the agreement was entered into by the agreement provider (rather than the obligations or rights acquired) on or after 1 July 2009.