(a) Administering or arranging for the administration of assets belonging to
another person (other than as administrator of a mutual fund) where
(i) those assets include investments falling within paragraphs 1 to 6 of
Schedule 1; or
(ii) the administration arrangements are such that those assets may
consist of or include investments and the arrangements have at any
time been held out as being arrangements under which investments
would be administered.
(b) Acting as administrator, registrar or transfer agent of a mutual fund.