Paragraph 8 Meaning of activities in the range from which a society is restricted
For the purposes of paragraph 7 above an activity of a body corporate is an activity in the range from which a society is restricted where it is an activity which the society could not undertake by reason of the fact that—
it has not adopted a particular adoptable power, whether because the power is not available to it or for any other reason, or
the activity would be in contravention of a restriction upon the extent of a power the society has adopted, being—
in the case of an appropriate financial service vehicle, either a restriction derived from the Act or any instrument under the Act or a restriction assumed by the society, or
in the case of an appropriate estate agency vehicle, either a restriction specified in Part III of Schedule 8 to the Act and relating to a power to provide a financial service within the meaning of section 34(11) of the Act or a restriction assumed by the society,
except where that activity comprises the continuation, during the first fifteen months following the date on which the body corporate first became associated with the society, of any activity carried on as part of the business of that body corporate immediately before that date.