Quote:
(1)In sections 36 and 37 “realistic imitation firearm” means an imitation firearm which—
(a)has an appearance that is so realistic as to make it indistinguishable, for all practical purposes, from a real firearm; and
(b)is neither a de-activated firearm nor itself an antique.
Neither applies to HCG.
Quote:
(2)For the purposes of this section, an imitation firearm is not (except by virtue of subsection (3)(b)) to be regarded as distinguishable from a real firearm for any practical purpose if it could be so distinguished only—
(a)by an expert;
I'd say that the Pulse Rifle is well-designed enough that it would pass as a real-world gun. As, BTW, do certain courier companies. Just ask poor Boltrig!
Quote:
(b)on a close examination; or
(c)as a result of an attempt to load or to fire it.
Now, these are interesting phrases, and could possibly be used to blow the entire VCRA out of the water when it comes to it being used to impede the sale of Airsoft guns and indeed the HCG replica.
They're blatantly not able to fire real ammunition - and the HCG has no working parts.
I'd still REALLY not want to be the guniea pig!
Quote:
(3)In determining for the purposes of this section whether an imitation firearm is distinguishable from a real firearm—
(a)the matters that must be taken into account include any differences between the size, shape and principal colour of the imitation firearm and the size, shape and colour in which the real firearm is manufactured; and
(b)the imitation is to be regarded as distinguishable if its size, shape or principal colour is unrealistic for a real firearm.
(4)The Secretary of State may by regulations provide that, for the purposes of subsection (3)(b)—
(a)the size of an imitation firearm is to be regarded as unrealistic for a real firearm only if the imitation firearm has dimensions that are less than the dimensions specified in the regulations; and
(b)a colour is to be regarded as unrealistic for a real firearm only if it is a colour specified in the regulations.
So, size-wise the Pulsey is realistic.
Anyone up for a debate on BB / OD again?

Basically, the law is phrased very ambiguously. This might seem to mean that we have a lot of leeway in what we can do.
Incorrect.
Any time the government leave room for interpretation, it's so that THEY can do what THEY like within the broad confines of the wording.
tl:dr
If you risk selling a Pulse Rifle to someone who's not a member of a re-eneactment society or a member of an insured Airsoft site... You risk large fines and possible jail time. On your own head be it.