Article 13 Regulated activities in respect of which article 12 applies
(1)
A regulated activity in respect of which the exemption in article 12 has effect is one that is—
(a)
specified by article 63U (ESG ratings) of the Regulated Activities Order,
(b)
necessary for the purpose of a pre-existing contract or to maintain a pre-existing public ESG rating,
(c)
carried on for the purpose of performing such a contract or maintaining such a rating, and
(d)
not a regulated activity for which the person has a Part 4A permission.
(2)
For the purposes of paragraph (1), the performance of a pre-existing contract includes the performance of an obligation under a contract which is contingent or conditional.