Section 4d in the drs policy
d. Trading in domain names for profit, and holding a large portfolio of domain names, are of themselves lawful activities. The Expert will review each case on its merits.
Nominet DRS regarding use of domain names:
For those registering and trading in generic domains, it's anywhere from a hobby to a full-time business, but it's a completely legitimate one. As Nominet themselves say in their "Experts Overview" DRS guidance https://nominet-prod.s3.amazonaws.com/wp-content/uploads/2015/08/Expert_Overview.pdf
"Trading in domain names is of itself unobjectionable." (3.2, p.9)
"4.10 Can use of a purely generic or descriptive term be abusive?
Yes but, depending on the facts, the threshold level of evidence needed to establish that this is the case is likely to be much higher. It may well often depend upon the extent to which such a term has acquired a secondary meaning, which increases the likelihood that any registration was made with knowledge of the rights that existed in the term in question. In many such cases where there is little or no evidence of acquired secondary meaning the Respondent is likely to be able to show that the domain name in question has been arrived at independently and accordingly cannot have been as a result of an Abusive Registration." (4.10, pp.15-16)
More here:
https://www.acorndomains.co.uk/threads/nominet-quoting-selling-uks-are-legal.137204
Another bit I found on my notepad, not sure where I copied it from:
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