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The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013

Type Statutory-Instrument

Publication 2013-07-25

Last updated 2023-07-11

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

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(i) P's licence covered the carrying on of an ancillary credit business in so far as it comprised or related to the activity of debt-administration (within the meaning of the 1974 Act),

(ii) immediately before 1st April 2014 P carried on an activity which, if carried on after that date would be an activity of the kind specified by article 36H of the Regulated Activities Order (operating an electronic system in relation to lending), and

(iii) immediately before that date, P did not also carry on an activity which, if carried on after that date, would be an activity of the kind specified by article 39G of that Order (debt administration),

the regulated activity specified in article 36H of the Regulated Activities Order and article 64 of that Order in so far as relevant to that activity;

(i) P's licence covered the carrying on of an ancillary credit business in so far as it comprised or related to the activity of debt-administration (within the meaning of the 1974 Act),

(ii) immediately before 1st April 2014, P carried on an activity which, if carried on after that date would be an activity of the kind specified by article 36H of the Regulated Activities Order (operating an electronic system in relation to lending), and

(iii) immediately before that date, P also carries on an activity which, if carried on after that date, would be an activity of the kind specified by article 39G of that Order (debt administration),

the regulated activities specified in articles 36H and 39G of the Regulated Activities Order and article 64 of that Order in so far as relevant to those activities;

(d) to the extent that P's licence covers any other activities, those regulated activities which are activities which were described in the licence and article 64 of that Order in so far as relevant to those activities.

(6) Unless paragraph (12) applies, on and after the notice date, any relevant recent licensee (“P”) who, immediately before 1st April 2014—

(a) held a standard licence under the 1974 Act,

(b) was a credit intermediary (within the meaning given by section 160A of the 1974 Act ), but

(c) did not carry on an activity which, if carried on after 1st April 2014, would be an activity of the kind specified by article 36H of the Regulated Activities Order,

is to be treated as having an interim permission to carry on regulated activities of the kind specified by articles 36A(1)(d) to (f) of the Regulated Activities Order and article 64 of that Order in so far as relevant to that activity, to the extent that P was carrying on such activities immediately before 1st April 2014; and such interim permission may be in addition to any interim permission the person obtains by virtue of paragraph (5).

(7) For the purposes of paragraphs (5) and (6), P is a “relevant recent licensee” if—

(a) P had been given a standard licence under the 1974 Act in the period beginning 18th March 2014 and ending on 31st March 2014 (including both days), and

(b) on a date in the period beginning on 1st April 2014 and ending on 14th April 2014 (including both days) (“the notice date”) P notified the FCA of P's desire to obtain interim permission under this article and has in that period paid any fee which is provided for in rules made by the FCA for this purpose.

(8) Interim permission which a person (“A”) is treated as having under this article does not permit A to canvass off trade premises borrower-lender-supplier agreements (within the meaning given by article 60L of the Regulated Activities Order) or regulated consumer hire agreements (within the meaning of article 60N of that Order) except to the extent that A's licence under the 1974 Act, immediately before 1st April 2014, specifically provided that A's licence covered that activity; and the reference to canvassing off trade premises is to be read with article 36B of that Order.

(9) Subject to article 59 (application of Act), an interim permission is to be treated as—

(a) if P was an authorised person immediately before 1st April 2014, a variation of permission,

(b) in any other case, a Part 4A permission.

(10) If P was, immediately before 1st April 2014, subject to a requirement imposed by the OFT under section 33A of the 1974 Act (power of OFT to impose requirements on licensees) and P obtains interim permission under this article, that requirement is to be treated as a requirement imposed by the FCA under section 55L of the Act (subject to any necessary modifications).

(11) For the purpose of paragraphs (1) and (5), it is the effect of the licence that matters, not how the activities for which a licence is given are described.

(12) This paragraph applies if—

(a) P has, before 1st April 2014, notified the FCA that P does not wish to obtain interim permission under this article, or

(b) the FCA has, before 1st April 2014, notified P in writing, that in the FCA's opinion, P is not carrying on the activities which are described in P's licence.

(13) Paragraph (15) applies where, before 1st April 2014, the OFT—

(a) had given a notice to P under section 32A(2) of the 1974 Act (suspension of a standard licence) that it is suspending P’s licence, but

(b) had not determined under section 34ZA of that Act (representations to OFT: suspension under section 32A) whether or not to confirm such a decision.

(14) Paragraph (15) also applies where, before 1st April 2014—

(a) the OFT had—

(i) given a notice to P under section 32A(2) of the 1974 Act that it is suspending P’s licence, and

(ii) confirmed under section 34ZA of that Act its determination under section 32A of that Act, and

(b) either—

(i) P had, submitted a notice of appeal to the First-tier Tribunal under section 41 of the 1974 Act (appeals to First-tier Tribunal under Part 3) with respect to that suspension and the appeal had not been determined, or

(ii) P had not submitted such a notice of appeal, but the specified period in respect of an appeal against the suspension had not expired.

(15) For the purposes of this article—

(a) P is to be treated as holding a licence under the 1974 Act immediately before 1st April 2014, and

(b) section 32A of that Act (power to suspend licence) is to be treated as if subsection (5) did not apply at that time.

(16) In this article, “specified period” has the meaning given in section 41 of the 1974 Act.

Procedure for notifying FCA

57

(1) Notices under article 56 must—

(a) be made in such manner as the FCA may direct; and

(b) contain or be accompanied by such other information as the FCA may reasonably require.

(2) Different directions may be given and different requirements imposed, in relation to different applications or categories of application.

(3) At any time after receiving the notification, the FCA may require the person giving the notification to provide the FCA with such further information as it reasonably considers necessary to enable the FCA to discharge its functions.

(4) The FCA may require information to be provided in such form, or for it to be verified in such a way, as the FCA may direct.

Duration of interim permission

58

(1) P's interim permission, in so far as it relates to a particular regulated activity or class of activity other than an activity to which paragraph (1A) applies ceases to have effect—

(a) if P applies to the appropriate regulator for Part 4A permission to carry on that activity or (as the case may be) to vary P's permission to add that activity to those to which the permission relates, before a date specified in a direction given by the FCA ( “ the application date ”), the date on which that application is determined;

(b) if P does not make such an application before the application date, the application date;

(1ZA) If P has obtained an interim permission by virtue of article 56(2A), 1st July 2016 is to be treated as the application date in relation to that interim permission unless the FCA specifies a different date in a direction made on or after 20th March 2016.

(1A) Paragraphs (1B) and (1C) apply to an activity—

(a) of a kind specified by article 36A , 39F(1), 39G(1) or 60B of the Regulated Activities Order (regulated credit agreements) as that Order is in force before 21st March 2016; and

(b) which, if carried on on or after 21st March 2016, would be of a kind specified by article 25A, 53A or 61 of the Regulated Activities Order by virtue of the amendments made to that Order by the Mortgage Credit Directive Order 2015 , the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.3) Order 2015 and the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 .

(1B) P’s interim permission ceases to have effect—

(a) if P applies to the appropriate regulator before 21st March 2016 for Part 4A permission to carry on an activity of the kind specified by article 25A, 53A or 61 of the Regulated Activities Order or (as the case may be) to vary P’s permission to add an activity of a kind specified by those articles to those to which the permission relates, on the date on which that application is determined; and

(b) in any other case, on 21st March 2016;

(1C) P’s interim permission is to be treated as an interim permission to carry on the activity from 21st March 2016 until the interim permission ceases to have effect, if—

(a) P’s interim permission continues to have effect on 21st March 2016 by virtue of paragraph (1B)(a), and

(b) P had permission to carry on the activity immediately before 21st March 2016 by virtue of the interim permission.

(1D) If P’s interim permission continues to have effect on 21st March 2016 by virtue of paragraph (1B)(a), from 21st March 2016 until the interim permission ceases to have effect the interim permission is to be treated as giving permission to carry on an activity which—

(a) if carried on immediately before 21st March 2016, would not have been a regulated activity, and

(b) becomes a regulated activity on 21st March 2016 by virtue of the amendments made to the Regulated Activities Order by the Mortgage Credit Directive Order 2015 , the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.3) Order 2015 and the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 .

(2) Paragraphs (1) and (1B) to (1D) do not affect the ability of the FCA or the PRA to vary or to cancel an interim permission under the Act.

(3) For the purposes of paragraphs (1)(a) and (1B)(a) the date on which an application is determined is—

(a) if the applicant by notice withdraws the application under section 55V(4) of the Act, the date on which the notice of withdrawal takes effect;

(b) if the application is granted by the appropriate regulator, the date on which the written notice given under section 55V(5) of the Act takes effect;

(c) if the appropriate regulator gives a decision notice under section 388 of the Act in relation to the application, the date on which that notice is given.

(4) Directions under this article may—

(a) relate to a particular person or class of person (including a class of person identified by reference to whether they have, or have not, provided the FCA with a notification in a form specified in the direction by the FCA);

(b) contain different dates;

(ca) specify a date before which an application may not be made (“the opening date”), provided that the opening date is at least three months before the application date;

(d) be amended by the FCA by further direction.

(5) Subject to article 59(5) and (5A), an application made before the opening date is to be treated for the purposes of sections 55A (application for permission) and 55V (determination of applications) of the Act as if it had not been made.

(6) Where P’s interim permission ceases to have effect in accordance with paragraph (1) or (1B)—

(a) paragraph (6) applies in respect of an act or omission by P which occurred at a time when P had an interim permission;

(b) any requirement—

(i) imposed on P under section 55L, 55M or 404F(7) of the Act at a time when P had an interim permission, and

(ii) which is in effect immediately before that interim permission ceases to have effect,

continues to have effect and paragraph (6) applies in respect of any contravention of that requirement.

(7) If P is no longer an authorised person, P is to be treated as an authorised person for the purposes of the following provisions of the Act—

(a) Part 11 (information gathering and investigations) and Part 14 (disciplinary measures);

(b) section 384 of the Act (power of FCA or PRA to require restitution).

Application of the Act to persons with an interim permission

59

(1) This article applies to each person (“A”) who has an interim permission by virtue of this Order.

(2) A's interim permission is to be disregarded for the purposes of—

(a) section 38(2) of the Act (exemption orders) ;

(b) section 55A(3) of the Act (application for permission);

(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) For the purposes of section 21(2) of the Act (restrictions on financial promotions), if A does not have permission other than an interim permission, A may only approve the content of a communication if the communication invites or induces a person to—

(a) enter into (or offer to enter into) an agreement the making or performance of which constitutes a controlled activity which corresponds to a regulated activity for which A has interim permission; or

(b) exercise any rights conferred by a credit agreement (within the meaning of the Regulated Activities Order) to acquire, dispose of, underwrite or convert a controlled investment which is relevant to the regulated activity for which A has interim permission to carry on.

(4) For the purposes of section 39 of the Act (appointed representatives) , A—

(a) may not be a principal in relation to an activity for which A has interim permission;

(b) may be an appointed representative in relation to an activity which A does not have interim permission to carry on.

(5) If A applies to the appropriate regulator—

(a) under section 55A of the Act for Part 4A permission to carry on a regulated activity other than a regulated activity for which A has interim permission , or

(b) under section 55H or 55I of the Act to vary a Part 4A permission that A has otherwise than by virtue of this Order by adding a regulated activity to those which the permission relates,

the application may be treated by the appropriate regulator as relating also to some or all of the regulated activities for which A has interim permission.

(5A) If the appropriate regulator treats the application as relating also to some or all of the regulated activities for which A has interim permission, article 58(5) does not apply in relation to the application.

(6) When the FCA or PRA—

(a) exercises its power under section 55J of the Act (variation or cancellation on initiative of regulator) in relation to A,

(b) exercises its power under section 55H (in the case of the FCA) or section 55I of the Act (in the case of the PRA) (variation at request of authorised person) to remove a regulated activity from those for which A has interim permission, or

(c) exercises its power under section 55L of the Act (in the case of the FCA) or section 55M of the Act (in the case of the PRA) (imposition of requirements by the regulator) in relation to A,

section 55B(3) of the Act (satisfaction of threshold conditions) does not require the regulator to ensure that A will satisfy, and continue to satisfy, in relation to the regulated activities for which A has an interim permission, the threshold conditions for which that regulator is responsible.

(7) A is not to be regarded as an authorised person for the purposes of Part 12 of the Act (control over authorised person) unless A has permission otherwise than by virtue of an interim permission.

(8) Subsection (3)(a) of section 213 (compensation scheme) does not apply to a person who is a relevant person (within the meaning of that section) only by virtue of having an interim permission.

(9) A’s interim permission is to be disregarded for the purposes of determining whether section 327(1) of the Act disapplies the general prohibition.

(10) A regulated activity for which a person has interim permission is to be disregarded for the purposes of section 327(5) and (7) of the Act (exemption from the general prohibition).

(11) For the purposes of section 332 of the Act (rules in relation to persons to whom the general prohibition does not apply)—

(a) A’s interim permission is to be disregarded for the purposes of subsection (3)(a);

(b) the regulated activities carried on under A’s interim permission are to be disregarded for the purposes of subsection 332(3)(b) and (4).

Grandfathered permission for certain debt-counsellors

60

(1) On and after 1st April 2014, a not-for-profit body which, immediately before 1st April 2014, was covered by a group licence under the 1974 Act to carry on the activity of debt-counselling (within the meaning of the 1974 Act) is to be treated for all purposes as having Part 4A permission to carry on regulated activities of the kind specified by 39D (debt adjusting), articles 39E (debt-counselling) and 89A (providing credit information services) of the Regulated Activities Order and article 64 of that Order in so far as relevant to those activities, to the extent that those regulated activities are activities which are described in the licence.

(2) In this article, a “not-for-profit body” means a body which, by virtue of its constitution or any enactment—

(a) is required (after payment of outgoings) to apply the whole of its income and any capital it expends for charitable or public purposes, and

(b) is prohibited from directly or indirectly distributing amongst its members any part of its assets (otherwise than for charitable or public purposes).

(3) For the purposes of this article, it is the effect of the group licence that matters, not how the activities for which a licence is given are described.

CHAPTER 5 — Rules and guidance

61

(1) This article applies to rules made or guidance given by the FCA which relate or relates to a credit-related regulated activity or the carrying on of such an activity.

(2) Section 1B(4) of the Act (competition duty) does not apply to the extent that—

(a) the rules are the same as, or substantially the same as, or have the same, or substantially the same, effect as any of the Consumer Credit Act provisions, or

(b) the guidance is the same as, or substantially the same as, or which has the same, or substantially the same, effect as any of the Consumer Credit Act provisions.

(3) Section 138I(2)(a) of the Act (cost benefit analysis) does not apply in relation to a draft of rules to which this article applies which are the same as, or substantially the same as, any of the Consumer Credit Act provisions or which have the same, or substantially the same, effect as any such provisions.

(4) For the purposes of this article, the “Consumer Credit Act provisions” are—

(a) the Consumer Credit Act 1974,

(b) any subordinate legislation made, or guidance issued, under that Act, and

disregarding the effect of article 20 (amendments of the Consumer Credit Act 1974) and any order made before 1st April 2014 under section 107 of the Financial Services Act 2012.

(5) Section 138I of the Act (consultation by the FCA) applies as if for subsections (7) and (8) there were substituted—

(7) “Cost benefit analysis” means— (a) an analysis of the difference between the costs and benefits of the Consumer Credit Act provisions and the costs and benefits that will arise— (i) if the proposed rules are made, or (ii) if subsection (5) applies, from the rules that have been made, and (b) subject to subsection (8), an estimate of that difference. (7A) For the purposes of subsection (7), the “Consumer Credit Act provisions” are— (a) the Consumer Credit Act 1974, (b) any subordinate legislation made, or guidance issued, under that Act, and (c) any notice issued by the OFT under section 86A of that Act (information sheets on arrears and defaults), disregarding the effect of article 20 (amendments of the Consumer Credit Act 1974) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 and any order made before 1st April 2014 under section 107 of the Financial Services Act 2012. (8) If, in the opinion of the FCA— (a) the difference referred to in subsection (7) cannot reasonably be estimated; or (b) it is not reasonably practicable to produce an estimate, the cost benefit analysis need not estimate the difference but must include a statement of the FCA's opinion and an explanation of it.

(6) The requirements of section 138I of the Act (as modified above) in so far as they apply to a proposal to make rules to which this article applies may be satisfied by things done (wholly or in part) before the date on which this article comes into force.

(7) It is immaterial for the purposes of paragraph (5) if, when the things were done, they were not compatible with section 138I of the Act or, in the case of things done by the Financial Services Authority before 1st April 2013, section 155 of the Act.

(8) In this article, “credit-related regulated activities” means the activities which will, from 1st April 2014, be regulated activities by virtue of Part 2 of this Order.

62

(1) This article applies to rules made by the PRA which relate to credit-related regulated activities or the carrying on of those activities.

(2) Section 138J(2)(a) of the Act (cost benefit analysis) does not apply in relation to a draft of rules to which this article applies which are the same as, or substantially the same as, any of the Consumer Credit Act provisions or which have the same, or substantially the same, effect as any such provisions.

(3) For the purposes of this article, the “Consumer Credit Act provisions” are—

(a) the Consumer Credit Act 1974,

(b) any subordinate legislation made, or guidance issued, under that Act, and

disregarding the effect of article 20 (amendments of the Consumer Credit Act 1974) and any order made before 1st April 2014 under section 107 of the Financial Services Act 2012.

(4) Section 138J of the Act (consultation by the PRA) is to apply as if for subsections (7) and (8) there were substituted—

(7) “Cost benefit analysis” means— (a) an analysis of the difference between the costs and benefits of the Consumer Credit Act provisions and the costs and benefits that will arise— (i) if the proposed rules are made, or (ii) if subsection (5) applies, from the rules that have been made, and (b) subject to subsection (8), an estimate of that difference. (7A) For the purposes of subsection (7), the “Consumer Credit Act provisions” are— (a) the Consumer Credit Act 1974, (b) any subordinate legislation made, or guidance issued, under that Act, and (c) any notice issued by the OFT under section 86A of that Act (information sheets on arrears and defaults), disregarding the effect of article 20 (amendments of the Consumer Credit Act 1974) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 and any order made before 1st April 2014 under section 107 of the Financial Services Act 2012. (8) If, in the opinion of the PRA— (a) the difference referred to in subsection (7) cannot reasonably be estimated; or (b) it is not reasonably practicable to produce an estimate, the cost benefit analysis need not estimate the difference but must include a statement of the PRA's opinion and an explanation of it.

(5) The requirements of section 138J of the Act (as modified above) in so far as they apply to a proposal to make rules to which this article applies may be satisfied by things done (wholly or in part) before the date on which this article comes into force.

(6) For the purposes of paragraph (4)—

(a) it is immaterial if, when the things were done, they were not compatible with section 138J of the Act or, in the case of things done by the Financial Services Authority before 1st April 2013, section 155 of the Act;

(b) the requirements may be satisfied by things done by the Financial Services Authority.

(7) In this article, “credit-related regulated activities” means the activities which will, from 1st April 2014, be regulated activities by virtue of Part 2 of this Order.

Designation of provisions made under the 1974 Act

63

(1) The FCA may designate a relevant instrument, or part of a relevant instrument, if the FCA considers it necessary or expedient to do so in consequence of any provision made by or under this Order.

(2) If the FCA designates a relevant instrument or part of such an instrument, in accordance with this article, the FCA must specify whether the instrument or part is to be treated as having been made by the FCA as a rule under section 137A of the Act or under a specified provision of the Regulated Activities Order (“the specified section or provision”).

(3) An instrument or part which is designated by the FCA in accordance with this article is to be treated for all purposes as having been made as a rule under the specified section or provision.

(4) The FCA may make such modifications to a relevant instrument or part designated, or being designated, as it considers necessary or expedient in consequence of any provision made by this Order.

(5) For the purposes of this article and article 64—

“relevant instrument” means any subordinate legislation or part of any subordinate legislation which is—made under Part 2 of the 1974 Act (irrespective of whether it is also made under section 182 of that Act), andrevoked by this Order;

“specified” means specified by the FCA in a designating instrument.

Designating instruments

64

(1) To designate or modify a relevant instrument or part of a relevant instrument, the FCA must make an instrument in writing which specifies, or more than one instrument in writing which between them specify—

(a) the relevant instrument or part,

(b) any modifications being made to the relevant instrument or part,

(d) whether the instrument or part is to be treated as having been made by the FCA as a rule under section 137A of the Act or under a specified provision of the Regulated Activities Order.

(2) The FCA must publish each designating instrument in the way appearing to it to be best calculated to bring it to the attention of the public.

(3) A person is not to be taken to have contravened a relevant instrument designated by the FCA if the person shows that, at the time of the alleged contravention, the designating instrument concerned had not been published.

(4) A designating instrument is to be treated as a rule-making instrument for the purposes of section 138H (verification of rules) of the Act .

(5) A designating instrument may contain provision other than that required by paragraph (1).

(6) The making of a designating instrument is a legislative function of the FCA for the purposes of paragraph 8(2) of Schedule 1ZA to the Act (arrangements for discharging functions).

CHAPTER 6 — Miscellaneous

Definition of “consumers”

65

(1) For the purposes of the provisions listed in paragraph (3), “consumers” includes persons—

(a) who before 1st April 2014 used a relevant credit service,

(b) who have rights or interests which are derived from, or are otherwise attributable to, the use of any such services by other persons, or

(c) who have rights or interests which may be adversely affected by the use of any such services by persons acting on their behalf or in a fiduciary capacity in relation to them.

(2) For the purposes of paragraph (1), “relevant credit services” are services provided—

(i) by a person who held or was covered by a licence under the 1974 Act, or

(ii) in carrying on a consumer credit business or an ancillary credit business (in each case, within the meaning of the 1974 Act).

(3) The provisions are—

(a) section 1G of the Act (meaning of consumer);

(b) section 1Q of the Act (Consumer Panel);

(d) section 68 of the Financial Services Act 2012 (cases in which Treasury may arrange independent inquiries).

(4) For the purposes of this article—

(a) where a person provided a service mentioned in paragraph (1) as a trustee, the persons who are, have been or may be beneficiaries of the trust are to be treated as persons who use, have used or may use the service;

(b) a person who deals, or dealt, with another person (“A”) in the course of A providing a service mentioned in paragraph (1) is to be treated as using, or having used, the service.

66

(1) The OFT may disclose to the FCA any information which the OFT considers is necessary or expedient to disclose to the FCA in preparation for the commencement of any provision of this Order or any order made under section 107 of the Financial Services Act 2012 which confers functions on the FCA.

(2) A local weights and measures authority in England, Wales or Scotland and the Department of Enterprise, Trade and Investment in Northern Ireland may disclose to the FCA any information which that person considers is necessary or expedient to disclose to the FCA in preparation for the commencement of any provision of this Order or any order made under section 107 of the Financial Services Act 2012 which confers functions on the FCA.

SCHEDULE

PART 1 — Amendments of other Acts of Parliament

Companies Act 1985

1

In Schedule 15D to the Companies Act 1985 (disclosures) —

(a) in paragraph 17, omit paragraph (b);

(b) in paragraph 28, after paragraph (a), insert—

(aa) the Consumer Credit Act 1974;

Courts and Legal Services Act 1990

2

(1) The Courts and Legal Services Act 1990 is amended as follows.

(2) In section 105(10) (tying-in arrangements: supplemental provisions) , for “OFT” substitute “ FCA ”.

(3) In section 107 (tying-in: enforcement) —

(a) for “OFT” in each place substitute “ FCA ”;

(b) after subsection (16) insert—

(17) The functions of the FCA under this section are to be treated for the purposes of the Financial Services and Markets Act 2000 as functions conferred on the FCA by or under that Act.

(4) In section 119(1) (interpretation) —

(a) after the definition of “designated judge” insert—

“the FCA” means the Financial Conduct Authority;

(b) omit the definition of “the OFT”.

Agriculture and Forestry (Financial Provisions) Act 1991

3

In section 1 of the Agriculture and Forestry (Financial Provisions) Act 1991 (the Agriculture Mortgage Corporation and Scottish Agriculture Securities Corporation) , subsection (7) is omitted.

Tribunals and Inquiries Act 1992

4

In Part 1 of Schedule 1 to the Tribunals and Inquiries Act 1992 (Tribunals under direct supervision of Council) , omit the entry for “fair trading”.

Railways Act 1993

5

In section 145(2) of the Railways Act 1993 (general restrictions on disclosure of information) , in paragraph (c), after “Financial Services and Markets Act 2000” insert “ , by or under the Consumer Credit Act 1974 ”.

Teaching and Higher Education Act 1998

6

In section 22(9) of the Teaching and Higher Education Act 1998 (new arrangements for giving financial support to students) , in so far as that provision remains in force, for the words from “for the purposes of any exemption” to the end of the subsection, substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

Criminal Justice and Police Act 2001

7

In Part 1 of Schedule 1 to the Criminal Justice and Police Act 2001 (powers to which section 50 applies), omit paragraph 18A .

Proceeds of Crime Act 2002

8

In Schedule 4 to the Proceeds of Crime Act 2002 (lifestyle offences: Scotland) , omit paragraph 9B and the heading immediately before it .

Income Tax (Earnings and Pensions) Act 2003

9

In section 554O (exclusions: employee car ownership schemes) of the Income Tax (Earnings and Pensions) Act 2003 —

(a) in subsection (1)(a)(i), for “a licensed lender” substitute “ an authorised lender ”;

(b) in subsection (5), for the definition of “licensed lender” substitute—

“authorised lender” means a person who— (a) has permission under Part 4A of the Financial Services and Markets Act 2000 to enter into, or to exercise or have the right to exercise rights and duties under, a contract of the kind mentioned in paragraph 23 of Schedule 2 to that Act, and (b) is not acting as a trustee.

(6) The definition of “authorised lender” must be read with— (a) section 22 of the 2000 Act, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

Consumer Credit Act 2006

10

In the Consumer Credit Act 2006—

(a) omit sections 2(3), 3, 4, 5(1), (2)(b), (3), (4), (10), 22(1) to (3), 24(2) to (4), 25(2), (3), 26, 27(1), (2), 28 to 50, 51(1), (3), (4), (7), 52 to 54, 59, 60, 61(1) to (3) and (5) to (10), 62, 65;

(b) omit Schedule 2;

Companies Act 2006

11

In the Companies Act 2006 —

(a) in Part 2 of Schedule 2 (specified descriptions of disclosure), in section (A) (United Kingdom) , in paragraph 25, omit paragraph (b);

(b) in Part 2 of Schedule 11A (specified descriptions of disclosures for the purposes of section 1224A) , in paragraph 39, omit paragraph (b).

Income Tax Act 2007

12

In section 564B (meaning of “financial institution”) of the Income Tax Act 2007 —

(a) in subsection (1) for paragraph (d) substitute—

(d) a person with permission under Part 4A of the Financial Services and Markets Act 2000 to enter into, or to exercise or have the right to exercise rights and duties under, a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods);

(b) after subsection (1) insert—

(1A) Subsection (1)(d) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

Legal Services Act 2007

13

In section 195(2) of the Legal Services Act 2007 (application of the Legal Profession and Legal Aid (Scotland) Act 2007) , omit paragraph (a).

Sale of Student Loans Act 2008

14

In section 8 of the Sale of Student Loans Act 2008 (consumer credit) —

(a) after subsection (1) insert—

(1A) The Financial Services and Markets Act 2000 does not regulate loans made in accordance with those regulations.

(b) in subsection (2), for “This section” substitute “ Subsection (1) ”.

Counter-Terrorism Act 2008

15

(1) Schedule 7 to the Counter-Terrorism Act 2008 (terrorist financing and money laundering) is amended as follows.

(2) In Part 5 (enforcement: information powers)—

(a) in paragraph 18—

(i) at the end of paragraph (b) of sub-paragraph (1) omit “or”;

(ii) omit paragraph (c) of sub-paragraph (1);

(iii) in sub-paragraph (2), omit paragraph (c);

(b) in paragraphs 18(3)(b), 23(1)(b) and 24 for “OFT” in each place substitute “ FCA ”.

(3) In Part 6 (enforcement: civil penalties), in paragraphs 27(1) and 28(1) in each place omit “or the OFT”.

(4) In Part 7 (enforcement: offences), in paragraph 33—

(a) omit paragraph (c) of sub-paragraph (1);

(b) omit paragraph (c) of sub-paragraph (2).

(5) In Part 8 (supplementary and general)—

(a) in paragraph 39(2)—

(i) in paragraph (a)(ii) omit “and consumer credit financial institutions”;

(ii) omit paragraph (b);

(b) in paragraph 45(1), omit the definition of “consumer credit financial institution”;

Corporation Tax Act 2009

16

In section 502 of the Corporation Tax Act 2009 (meaning of “financial institution”) —

(a) for subsection (1)(d), substitute—

(d) a person with permission under Part 4A of the Financial Services and Markets Act 2000 to enter into, or to exercise or have the right to exercise rights and duties under, a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods);

(b) after subsection (1) insert—

(1A) Subsection (1)(d) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

Energy Act 2011

17

(1) The Energy Act 2011 is amended as follows.

(2) In section 20 (power to modify energy supply licences to make provision as to consumer protection), for subsection (5) substitute—

(5) For the purpose of this section, references to the disapplied consumer protection legislation are to— (a) the provisions of or made under the Consumer Credit Act 1974 or the Financial Services and Markets Act 2000 (“the 2000 Act”), and (b) any rules made under the 2000 Act, which would apply but for any exemption conferred by an order under section 22 of the 2000 Act (regulated activities) in relation to debts due under a green deal plan associated with the licensee. (6) A green deal plan is associated with a licensee if the payments under the plan are to be made to the licensee.

(3) Omit sections 25 and 26 (exemptions from Consumer Credit Act 1974).

(4) In section 30 (power to amend Consumer Credit Act 1974)—

(a) in subsection (1), after “Consumer Credit Act 1974” insert “ , the Financial Services and Markets Act 2000 and any statutory instrument made under that Act ”;

(b) in subsection (2)(a), for “Office of Fair Trading” substitute “ Financial Conduct Authority ”.

PART 2 — Amendments of secondary legislation etc.

The Estate Agents (Specified Offences) (No. 2) Order 1991

18

In the Schedule to the Estate Agents (Specified Offences) (No 2) Order 1991 (specified offences) , in the entry relating to the 1974 Act, omit the references to section 7, section 39(1), (2) and (3) and section 167(2).

The Education (Student Loans) Regulations (Northern Ireland) 1998

19

In paragraph 1 of Schedule 2 to the Education (Student Loans) Regulations (Northern Ireland) 1998 , for the definition of “APR” substitute—

“APR” means the annual percentage rate of charge calculated under rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;

The Education (Student Loans) Regulations 1998

20

In paragraph 1 of Schedule 2 to the Education (Student Loans) Regulations 1998 , for the definition of “APR” substitute—

“APR” means the annual percentage rate of charge calculated under rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;

The Education (Student Support) (Northern Ireland) Order 1998

21

In article 3(9) of the Education (Student Support) (Northern Ireland) Order 1998 , for the words from “for the purposes of any exemption” to the end of the subsection, substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The Representation of the People (England and Wales) Regulations 2001

22

In regulation 114 of the Representation of the People (England and Wales) Regulations 2001 (sale of full register to credit reference agencies) —

(a) in paragraph (1), for “a credit reference agency which is registered under Part III of the Consumer Credit Act 1974 (by virtue of section 147 of that Act)” substitute “ a person who has permission under the Financial Services and Markets Act 2000 to furnish persons with information relevant to the financial standing of other persons ”;

(b) after paragraph (5) insert—

(6) Paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Representation of the People (Scotland) Regulations 2001

23

In regulation 113 of the Representation of the People (Scotland) Regulations 2001 (sale of full register to credit reference agencies) —

(a) in paragraph (1), for “a credit reference agency registered under Part III of the Consumer Credit Act 1974 (by virtue of section 147 of that Act)” substitute “ a person who has permission under the Financial Services and Markets Act 2000 to furnish persons with information relevant to the financial standing of other persons ”;

(b) after paragraph (5) insert—

(6) Paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Education (Student Support) Regulations (Northern Ireland) 2002

24

In regulation 40 of the Education (Student Support) Regulations (Northern Ireland) 2002 (interest) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 1980” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The High Court Enforcement Officers Regulations 2004

25

In regulation 5 of the High Court Enforcement Officers Regulations 2004 (application procedure) —

(a) in paragraph (3)(b), for paragraph (ii) substitute—

(ii) any permission that the applicant has under the Financial Services and Markets Act 2000 which relates to or is connected with a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods);

(b) after paragraph (6) insert—

(7) Paragraph (ii) of paragraph (3)(b) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Financial Services (Distance Marketing) Regulations 2004

26

In the Financial Services (Distance Marketing) Regulations 2004 —

(a) in regulation 2(1) (interpretation), in the definition of “regulated consumer credit agreement” for “regulated by the 1974 Act” substitute “ which is a regulated agreement (within the meaning given by section 189 of the 1974 Act) ”;

(b) in regulation 11 (exceptions to the right to cancel), for paragraph (1)(h) substitute—

(h) a regulated consumer credit agreement to which the right of withdrawal applies under section 66A of the 1974 Act;

The Gender Recognition (Disclosure of Information) (England, Wales and Northern Ireland) (No 2) Order 2005

27

In article 6(3) of the Gender Recognition (Disclosure of Information) (England, Wales and Northern Ireland) (No 2) Order 2005 (credit reference agencies) , for “has the meaning given in” substitute “ is to be read in accordance with ”.

The Gender Recognition (Disclosure of Information) (Scotland) Order 2005

28

In article 6(3) of the Gender Recognition (Disclosure of Information) (Scotland) Order 2005 (credit reference agencies) , for “has the meaning given in” substitute “ is to be read in accordance with ”.

The Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006

29

In regulation 11 of the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006 (interest) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The Education (Student Loans) (Scotland) Regulations 2007

30

In regulation 14 of the Education (Student Loans) (Scotland) Regulations 2007 (interest) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The Money Laundering Regulations 2007

31

(1) The Money Laundering Regulations 2007 are amended as follows.

(2) In regulation 2(1) (interpretation), omit the definitions of “the OFT” and “consumer credit financial institution”.

(3) In regulation 17(2) (reliance), omit sub-paragraph (aa).

(4) In regulation 22 (interpretation)—

(a) in paragraph (1)—

(i) in the definition of “Annex 1 financial institution”, omit sub-paragraph (a);

(ii) omit the definition of “consumer credit financial institution”;

(b) omit paragraph (2).

(5) In regulation 23(supervisory authorities)—

(a) in paragraph (1)—

(i) at the end of sub-paragraph (a)(i) insert “ but not excluded money service businesses ”;

(ii) omit sub-paragraph (b);

(b) after paragraph (4), insert—

(5) For the purposes of this regulation, a money service business is an “excluded money service business” if it is an authorised person who has permission under the 2000 Act which relates to or is connected with a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods) but does not have permission to carry on any other kind of regulated activity. (6) Paragraph (5) must be read with— (a) section 22 of the 2000 Act, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

(6) In regulation 32 (power to maintain registers), omit paragraph (3).

(7) In regulation 34 (applications for and cancellation of registration in a register maintained under regulation 32)—

(a) in paragraph (2), in the first place the words appear, and in paragraphs (7) and (8), omit “or the OFT”;

(b) in paragraph (3), omit “and the OFT”;

(8) In regulation 35 (costs of supervision)—

(a) in paragraphs (1) and (2), omit “, the OFT”;

(b) in paragraph (5), for “OFT” in each place substitute “ Authority ”.

(9) In regulation 36 (interpretation)—

(a) in the definition of “designated authority”—

(i) at the end of paragraph (a), insert “ and ”;

(ii) omit the “and” at the end of paragraph (b) and paragraph (c);

(b) in the definition of “officer”—

(i) at the end of paragraph (b) insert “ or ”;

(ii) omit paragraph (c);

(10) In regulation 40(1)(b) (failure to comply with information requirement), for “OFT” substitute “ Authority ”.

(11) In regulation 41 (powers of relevant officers), for “OFT” in each place substitute “ Authority ”.

(12) In regulation 42 (power to impose civil penalties), in each of paragraphs (6) and (7), omit “, the OFT”.

(13) In regulation 44 (appeals)—

(a) in paragraph (1)(b), omit “, the OFT”;

(b) in paragraph (2), omit sub-paragraph (c);

(14) In regulation 46 (prosecution of offences)—

(a) in paragraph (1), omit sub-paragraph (b);

(b) omit paragraphs (4) and (5);

(15) In regulation 49(1) (obligations on public authorities), omit sub-paragraph (h).

Transitional provision in relation to the Money Laundering Regulations 2007

32

(1) This paragraph makes transitional provisions in connection with the amendments made to the Money Laundering Regulations 2007 (“the Regulations”).

(2) Anything done by or in relation to the OFT under regulation 27 (applications for registration) or regulation 34 (applications for and cancellation of registration in a register maintained under regulation 32) is, to the extent necessary for the effective operation of the Regulations, to be treated as having been done by or in relation to the FCA.

(3) Any charges which were, immediately before 1st April 2014, due to the OFT under regulation 35 (costs of supervision) are due to the FCA.

(4) Anything done by or in relation to the OFT under Part 5 of the Regulations (enforcement) is, to the extent necessary for the effective operation of the Regulations, to be treated as having been done by or in relation to the FCA.

The Administrative Justice and Tribunals Council (Listed Tribunals) Order 2007

33

In article 2 of the Administrative Justice and Tribunals Council (Listed Tribunals) Order 2007 (list of tribunals) , omit the entry beginning “The Office of Fair Trading”.

The Graduate Endowment (Scotland) Regulations 2008

34

In regulation 11 of the Graduate Endowment (Scotland) Regulations 2008 (interest) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The Supply of Information (Register of Deaths) (England and Wales) Order 2008

35

In the Schedule to the Supply of Information (Register of Deaths) (England and Wales) Order 2008 , for paragraph 11 substitute—

(11) (1) A person with permission under the Financial Services and Markets Act 2000 to carry on a regulated activity— (a) in relation to or in connection with a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods) , or (b) of the kind mentioned in paragraph 24B (providing credit reference services) or 24C (providing credit information services) of that Schedule . (2) Sub-paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Supply of Information (Register of Deaths) (Northern Ireland) Order 2008

36

In the Schedule to the Supply of Information (Register of Deaths) (Northern Ireland) Order 2008 , for paragraph 12 substitute—

(12) (1) A person with permission under the Financial Services and Markets Act 2000 to carry on a regulated activity— (a) in relation to or in connection with a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods), or (b) of the kind mentioned in paragraph 24B (providing credit reference services) or 24C (providing credit information services). (2) Sub-paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Representation of the People (Northern Ireland) Regulations 2008

37

In regulation 112 of the Representation of the People (Northern Ireland) Regulations 2008 (sale of full register etc. to credit reference agencies) —

(a) in paragraph (1), for “a credit reference agency registered under Part III of the Consumer Credit Act 1974” substitute “ a person who has permission under the Financial Services and Markets Act 2000 to furnish persons with information relevant to the financial standing of other persons ”;

(b) after paragraph (4) insert—

(5) Paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

The Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008

38

In the Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008 —

(a) in regulation 2(1), after the definition of “related credit agreement” insert—

“regulated agreement” has the meaning given by section 189 of the 1974 Act;

(b) in regulation 6—

(i) in paragraph (1)(ca)—

(aa) for “regulated under the 1974 Act”, substitute “ which is a regulated agreement ”;

(bb) for “that Act” substitute “ the 1974 Act ”;

(cc) for paragraph (2)(d)(ii) and (iii) substitute—

(ii) a consumer credit agreement secured on land which is— (aa) a regulated agreement; (bb) an exempt agreement (within the meaning given by article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001); or (iii) any other regulated agreement.

The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009

39

In regulation 16 of the Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009 (interest rate on the loans) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 1980” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

The Payment Services Regulations 2009

40

In the Payment Services Regulations 2009 —

(a) omit regulation 26 (carrying on of Consumer Credit Act business by EEA authorised payment institutions);

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Education (Student Loans) (Repayment) Regulations 2009

41

(1) The Education (Student Loans) (Repayment) Regulations 2009 are amended as follows.

(2) In regulation 21 (interest rate on the loans) —

(a) in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “ rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order ”;

(b) in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “ by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ”.

(3) In regulation 21A (interest rate on post-2012 student loans) —

(a) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” in each place substitute “ total charge for credit rules ”;

(b) after paragraph (14) insert—

(15) In this regulation, “total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order.

The Electronic Money Regulations 2011

42

In the Electronic Money Regulations 2011 , omit regulation 31 (carrying on of Consumer Credit Act business by an authorised electronic money institution).

The Debt Arrangement Scheme (Scotland) Regulations 2011

43

In Schedule 4 to the Debt Arrangement Scheme (Scotland) Regulations 2011 (payment distributors) —

(a) for paragraph 1 substitute—

(1) (1) A person with permission under the Financial Services and Markets Act 2000 to carry on a regulated activity— (a) in relation to or in connection with a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods), or (b) of the kind mentioned in paragraph 24B (providing credit reference services) or 24C (providing credit information services) of that Schedule. (2) Sub-paragraph (1) must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

(b) for paragraph 5, substitute—

(5) Make and maintain appropriate arrangements to ensure compliance with rules made by the Financial Conduct Authority and to ensure that appropriate regard is had to guidance issued by the Financial Conduct Authority.

The Green Deal Framework (Disclosure, Acknowledgement, Redress etc.) Regulations 2012

44

In the Green Deal Framework (Disclosure, Acknowledgement, Redress etc.) Regulations 2012 —

(a) in regulation 2 (interpretation – general)—

(i) in paragraph (1)—

(aa) omit the definition of “consumer credit licence”;

(bb) insert at the appropriate place—

“consumer credit permission” means permission under the Financial Services and Markets Act 2000 to carry on a regulated activity in relation to or in connection with a contract of the kind mentioned in paragraph 23 of Schedule 2 to that Act (credit agreements);

(ii) after paragraph (1) insert—

(1A) The definition of “consumer credit permission” must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

(b) in regulation 25 (notifications concerning consumer credit), for paragraphs (a) and (b) substitute—

(a) it ceases to hold a consumer credit permission, or (b) it becomes a person who, by virtue of section 19 of the Financial Services and Markets Act 2000, is required to have a consumer credit permission.

(c) in regulation 52(3)(a) (no sanctions without receipt of complaints or information), for “Office of Fair Trading” substitute “ Financial Conduct Authority ”;

(d) in paragraph 24 of Schedule 1 (registers), for sub-paragraphs (a) and (b) substitute—

(a) whether the person has a consumer credit permission and the activities for which he has permission, or (b) where the person is not required to have a consumer credit permission, an entry on the register to that effect.

The Universal Credit, Personal Independence Payment, Jobseeker's Allowance and Employment and Support Allowance (Claims and Payments) Regulations 2013

45

In paragraph 11 of Schedule 6 to the Universal Credit, Personal Independence Payment, Jobseeker's Allowance and Employment and Support Allowance (Claims and Payments) Regulations 2013 (deductions from benefit and direct payment to third parties) —

(a) in sub-paragraph (8), in the definition of “eligible lender”, for “is licensed under the Consumer Credit Act 1974” substitute “ has permission under the Financial Services and Markets Act 2000 to enter into a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods); ”;

(b) after sub-paragraph (8) insert—

(9) The definition of “eligible lender” must be read with— (a) section 22 of the Financial Services and Markets Act 2000, (b) any relevant order under that section, and (c) Schedule 2 to that Act.

PART 3 — Amendments of other legislation

The Housing (Scotland) Act 2006

46

In section 75(5) of the Housing (Scotland) Act 2006 (determination of applications) , in the definition of “commercial lender”—

(a) in paragraph (a), for “to provide credit” substitute “ to enter into a contract of the kind mentioned in paragraph 23 or paragraph 23B of Schedule 2 to that Act (credit agreements and contracts for hire of goods), or ”;

(b) in paragraph (b), for “or” substitute “ and ”;

Signed

David Evennett — Stephen Crabb — Two of the Lords Commissioners of Her Majesty's Treasury — 2013-07-25

Explanatory note

(This note is not part of the Order)

Footnotes

[^f00001]: S.I. 2012/1759.

[^f00002]: 2000 c.8. Paragraph 26 of Schedule 2 was substituted by the Financial Services Act 2012 (c.21), section 8.

[^f00003]: Section 22 was amended by the Financial Services Act 2012, section 7.

[^f00004]: 1972 c. 68. Amended by the Legislative and Regulatory Reform Act 2006 (c.51), section 27, and the European Union (Amendment) Act 2008 (c.7), Schedule, Part 1.

[^f00005]: 1974 c.39.

[^f00006]: S.I. 2001/544.

[^f00007]: There are amending instruments but none is relevant to this Order.

[^f00008]: Amended by S.I. 2003/1476, S.I. 2006/3384 and S.I. 2009/1389.

[^f00009]: Inserted by the Financial Services Act 2012, section 7.

[^f00010]: 1974 c.47.

[^f00011]: Amended by the Administration of Justice Act 1985 (c.61), Schedule 1, paragraph 12, and the Arbitration Act 1996 (c.23), Schedule 4.

[^f00012]: 1980 c.46.

[^f00013]: S.I. 1976/582 (N.I. 12).

[^f00014]: 1981 c.54.

[^f00015]: Inserted by S.I. 2002/1776 and amended by S.I. 2004/3379.

[^f00016]: Section 1G was inserted by the Financial Services Act 2012, section 6. Section 404E was inserted by the Financial Services Act 2010, section 14, and amended by S.I. 2011/99. Section 425A was inserted by the Financial Services Act 2010, Schedule 2, paragraphs 1 and 32, and amended by S.I. 2013/655.

[^f00017]: Inserted by S.I. 2003/1476.

[^f00018]: 2011 c.16.

[^f00019]: 1981 c.54.

[^f00020]: Inserted by S.I. 2002/1776.

[^f00021]: 1899 c.46. Section 7 has been repealed in relation to Scotland by the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5), Schedule 13, Part 1.

[^f00022]: 1986 c.53.

[^f00023]: 2008 c.17.

[^f00024]: 2010 asp 17.

[^f00025]: Section 156(4) amended by the Government of Wales Act 1998 (c.38), Schedule 16, paragraph 5, the Housing and Regeneration Act 2008 (c.17), section 307, and S.I. 2001/369 and 2010/866.

[^f00026]: 1996 c.52. Amended by the Housing and Regeneration Act 2008, sections 62 and 63.

[^f00027]: S.R. 1981/156 (N.I. 3).

[^f00028]: 1979 c.34.

[^f00029]: S.I. 1985/1205 (N.I. 12).

[^f00030]: Inserted by S.I. 2009/1342.

[^f00031]: Amended by S.I. 2002/682, 2006/3384 and 2009/1389.

[^f00032]: 1981 c.54.

[^f00033]: Inserted by S.I. 2003/1476 and amended by S.I. 2007/3510 and S.I. 2011/1265.

[^f00034]: Inserted by the Financial Services Act 2012, section 6.

[^f00035]: Section 203 was amended by the Enterprise Act 2002 (c.40), Schedule 25, paragraph 40(1) and (7), the Consumer Credit Act 2006 (c.14), section 33, and S.I. 2000/2952. Section 204 was amended by the Enterprise Act 2002, Schedule 25, paragraph 40(1) and (8).

[^f00036]: Inserted by the Consumer Credit Act 2006, section 59.

[^f00037]: Amended by the Consumer Credit Act 2006, section 61.

[^f00038]: Amended by the Consumer Credit Act 2006, section 61.

[^f00039]: Amended by the Consumer Credit Act 2006, section 61.

[^f00040]: Inserted by the Consumer Credit Act 2006, Schedule 2.

[^f00041]: Amended by the Consumer Credit Act 2006, section 61.

[^f00042]: Inserted by the Consumer Credit Act 2006, section 60.

[^f00043]: Inserted by the Financial Services Act 2012, section 43.

[^f00044]: Amended by S.I. 2003/1473.

[^f00045]: OJ L 133/66 22.5.2008 p.1.

[^f00046]: Amended by the Consumer Credit Act 2006, section 61.

[^f00047]: Amended by the Enterprise Act 2002, Schedule 25, paragraph 40(1) and (17).

[^f00048]: Inserted by of the Financial Services Act 2010, section 14.

[^f00049]: Inserted by the Financial Services Act 2010, Schedule 1.

[^f00050]: Inserted by the Financial Services Act 2012, section 7.

[^f00051]: Amended by the Enterprise Act 2002, Schedule 25, paragraph 40(1) and (19)(a), and the Consumer Credit Act 2006, section 33.

[^f00052]: Amended by the Enterprise Act 2002, Schedule 25, paragraph 40(1) and (19)(b), the Consumer Credit Act 2006, section 33, and the Financial Services Act 2012, Schedule 4, paragraphs 1 and 15.

[^f00053]: Amended by S.I 2013/555.

[^f00054]: 2011 c.16.

[^f00055]: Amended by the Enterprise Act 2002, Schedule 25, paragraphs 40(1) and (21).

[^f00056]: Amended by section 59 of the Consumer Credit Act 2006.

[^f00057]: Inserted by the Financial Services Act 2012, section 24.

[^f00058]: Amended by the Financial Services Act 2010, Schedule 2, paragraph 15, and the Financial Services Act 2012 Schedule 12, paragraphs 1 to 9. Modified by S.I. 2001/3083.

[^f00059]: Amended by the Financial Services Act 2012, Schedule 12, paragraph 7(1) to (3), and S.I. 2007/126.

[^f00060]: S.I. 2001/1177. Article 3D was inserted by S.I. 2009/1342. There are amending instruments but none is relevant to this Order.

[^f00061]: S.I. 2001/1201.

[^f00062]: Amended by S.I. 2007/125 and S.I. 2007/1821.

[^f00063]: Substituted by S.I. 2003/1675 and amended by S.I. 2006/2383 and 2009/1342.

[^f00064]: Inserted by S.I. 2007/1821.

[^f00065]: 1988 c.45. Amended by the Enterprise Act 2002, Schedule 23, paragraphs 1 and 14, and the Tribunals, Courts and Enforcement Act 2007 (c.15), Schedule 20, paragraphs 1 and 7.

[^f00066]: S.I. 1989/2405 (N.I.19). Amended by S.R. 1995/225, S.R. 2002/334, S.I. 2002/3152 (N.I.6), S.R. 2003/660, S.R. 2004/307.

[^f00067]: Amended by the Bankruptcy (Scotland) Act 1993 (c.6), section 11, the Insolvency Act 2000 (c.39), section 4, and S.I./1994/2421, 2002/1240, 2002/2708 and. 2009/1941.

[^f00068]: 1988 c.52. There are amending instruments but none is relevant to this Order.

[^f00069]: 2003 c1. Amended by the Finance Act 2005 (c.7), section 16.

[^f00070]: S.I. 2001/1217.

[^f00071]: Amended by S.I. 2001/2508, 2003/1475, 2003/1476, 2004/453, 2004/2737, 2006/2383 and 2006/3414.

[^f00072]: Amended by S.I. 2001/2508, 2003/1475, 2003/1476, 2004/453, 2004/2737, 2006/2383 and 2006/3414.

[^f00073]: S.I. 2001/2256. Amended by S.I. 2002/1775.

[^f00074]: S.I. 2005/1529.

[^f00075]: Amended by S.I. 2006/2383 and 2009/1342.

[^f00076]: Inserted by S.I. 2006/3384.

[^f00077]: Inserted by S.I. 2006/2383.

[^f00078]: Inserted by S.I. 2009/1342.

[^f00079]: There are amending instruments but none is relevant to this Order.

[^f00080]: S.I. 2007/383.

[^f00081]: S.I. 2009/774.

[^f00082]: Sections 178 to 191G were substituted by S.I. 2009/534 and amended by the Financial Services Act 2012, section 26.

[^f00083]: 2011 c.16.

[^f00084]: Part 1 was amended by the Enterprise Act 2002 (c.40), Schedule 25, paragraph 6(1) to (5) and Schedule 26, the Tribunals and Inquiries Act 1992, Schedule 4, and sections 27, 44, 51, 58, 61, 62 and 70 of, and Schedule 4 to, the Consumer Credit Act 2006 (c.14) and S.I. 2009/1835.

[^f00085]: Amended by sections 2 and 5 of, and Schedule 4 to, the Consumer Credit Act 2006 and S.I. 2008/2826.

[^f00086]: Repealed in part by Schedule 4 to the Consumer Credit Act 2006.

[^f00087]: Amended by the Telecommunications Act 1984 (c.12), Schedule 4, paragraph 60, the Building Societies Act 1986 (c.53), Schedule 18, Part 1, paragraph 10(2) and Schedule 19, Part 1, the Housing and Planning Act 1986 (c.63), section 22, the Banking Act 1987 (c.22), section 88, the Housing Act 1996 (c.52), Schedule 19, Part 14, the Communications Act 2003 (c.21), Schedule 17, paragraph 47, the Charities Act 2006 (c.50), Schedule 8, paragraph 56, the Consumer Credit Act 2006 (c,14), section 22 and Schedule 4, the Financial Services Act 2012, Schedule 18, Part 2, paragraph 37(1) and (2), and S.I. 1997/627, 2001/544, 2001/3649, 2006/2383, 2009/1941 and 2010/866.

[^f00088]: Inserted by of the Consumer Credit Act 2006, section 3.

[^f00089]: Inserted by of the Consumer Credit Act 2006, section 4 and amended by the Energy Act 2011 (c.16), section 25.

[^f00090]: Inserted by S.I. 2008/2826.

[^f00091]: Part 3 is amended by the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (7) to (21), the Consumer Credit Act 2006, , sections 28 to 55, the Energy Act 2006, section 26, the Financial Services Act 2010, section 24 and Schedule 2, Part 2, paragraph 36, the Financial Services Act 2012, section 108 and Schedule 18, Part 2, paragraph 37(1) and (3) and (4), and S.I. 2001/3649, 2007/126, 2009/1835 and 2011/99.

[^f00092]: One consequence of this repeal is that any licences issued by the OFT under the 1974 Act will cease to have effect on 1st April 2014. Article 56 of this Order makes transitional provision in connection with licences which have effect immediately before that date.

[^f00093]: Amended by the Contracts (Applicable Law) Act 1990 (c.36), section 5 and Schedule 4, paragraph 2, the Consumer Credit Act 2006, Schedule 4, and S.I. 2001/544.

[^f00094]: Amended by S.I.2008/1277.

[^f00095]: Sections 51A and 51B were inserted by the Financial Services Act 2010, section 15.

[^f00096]: Amended by S.I. 2001/544.

[^f00097]: Amended by S.I. 2001/544 and S.I. 2006/2383.

[^f00098]: Amended by S.I. 2001/3649.

[^f00099]: Sections 55A to 55C were inserted by S.I. 2010/1010.

[^f00100]: Amended by the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (23), and S.I. 2010/1010.

[^f00101]: Inserted by S.I. 2010/1010.

[^f00102]: Subsections (1A) to (1F) were substituted by S.I. 2010/1010.

[^f00103]: Inserted by S.I. 2010/1010.

[^f00104]: Inserted by S.I. 2010/1010.

[^f00105]: Inserted by S.I. 2010/1010.

[^f00106]: Amended by S.I. 2005/2967, 2008/733, 2008/2826 and 2010/1010.

[^f00107]: Inserted by S.I. 2010/1010.

[^f00108]: Amended by the Minors’ Contracts Act 1987 (c.13), section 4, and the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (27).

[^f00109]: Inserted by the Financial Services Act 2012, Schedule 9, Part 2 paragraph 8.

[^f00110]: Amended by the Banking Act 1979 (c.37), section 38.

[^f00111]: Inserted by section 19 of the Consumer Credit Act 2006.

[^f00112]: Inserted by the Consumer Credit Act 2006, section 22.

[^f00113]: Amended by the Contracts (Applicable Law) Act 1990, Schedule 4, paragraph 2, the Consumer Credit Act 2006, sections 5, 24 and 25, and S.I. 2003/1475.

[^f00114]: Section 146 was amended by the Arbitration Act 1996 (c.23), Schedule 3, paragraph 26, the Consumer Credit Act 2006, section 24, the Legal Services Act 2007 (c.29), Schedule 21, paragraph 31,S.I. 2003/1475 and S.I. 2006/2383. Section 147 was repealed in part by the Consumer Credit Act 2006, section 70 and Schedule 4. Section 148 was amended by the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (28), and S.I. 2001/3649. Section 149 was amended by the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (29), and S.I. 2001/3649. Section 150 was repealed by the Consumer Credit Act 2006, Schedule 4. Section 151 was amended by the Consumer Credit Act 2006, section 25, S.I. 2001/544 and S.I. 2008/1277. Section 152 was amended by the Consumer Credit Act 2006, section 25.

[^f00115]: Amended by S.I. 1998/997 and S.I. 2003/1475.

[^f00116]: Amended by the Consumer Credit Act 2006, section 25.

[^f00117]: Amended by the Data Protection Act 1998 (c.29), section 62.

[^f00118]: Amended by the Data Protection Act 1998, section 62, and the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (31).

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