In the cases described in this section, a person who—
is carrying on a regulated activity, but
would not otherwise be regarded as carrying it on in the United Kingdom,
is, for the purposes of this Act, to be regarded as carrying it on in the United Kingdom.
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The third case is where—
his registered office (or if he does not have a registered office his head office) is in the United Kingdom;
the day-to-day management of the carrying on of the regulated activity is the responsibility of—
his registered office (or head office); or
another establishment maintained by him in the United Kingdom.
The fourth case is where—
his head office is not in the United Kingdom; but
the activity is carried on from an establishment maintained by him in the United Kingdom.
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The sixth case is where—
the regulated activity being carried on by the person is the regulated activity of managing an AIF;
the AIF being managed—
has its registered office in the United Kingdom; or
is marketed in the United Kingdom;
the person's registered office is in the United Kingdom or, if the person does not have a registered office, the person's head office is in the United Kingdom; and
the activity is carried on from an establishment maintained in a country or territory outside the United Kingdom.
For the purposes of the preceding subsections it is irrelevant where the person with whom the activity is carried on is situated.
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For the purposes of this section, an AIF is "marketed" when—
the person managing the AIF ("the AIFM") makes a direct or indirect offering or placement of units or shares of the AIF to or with an investor domiciled or with a registered office in the United Kingdom, or
another person makes such an offering or placement at the initiative of, or on behalf of, the AIFM.