(13)Persons who provide investment services consisting exclusively in the administration of employee-participation schemes and who therefore do not provide investment services for third parties should not be covered by this Directive.
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New version applies from 04/01/2011 — introduced by Directive 2010/78/EU.
103 provisions change.
Later versions: 03/01/2018.
Recital 13 changes in this version: compare with the current text.