Regulation 10 Persons who are not and may not be approvedI1

Scotland

The persons who are not money advisers, and may not be approved as such, are—

(a)

a sheriff officer or messenger-at-arms, or an employee of such a person;

(b)

a person or body providing financial services, or financial advice other than money advice, in the course of a business or otherwise for profit, or an employee of such a person, unless the person is a—

(i)

solicitor;

(ii)

chartered or certified accountant;

(iii)

a credit union registered under the Industrial and Provident Societies Act 1965^f1 by virtue of section 1 (registration under the Industrial and Provident Societies Act 1965) of the Credit Unions Act 1979^f2;

(c)

a person providing debt collection services, or an employee of such a person;

(d)

a person convicted of an offence involving theft, fraud or other dishonesty;

(e)

a person subject to a bankruptcy restrictions order (including an interim order) or bound by a bankruptcy restrictions undertaking, under Schedule 4A (bankruptcy restrictions order and undertaking) to the 1986 Act^f3 or under section 56A or as the case may be 56F or 56G of the 1985 Act^f4;

(f)

a person in respect of whom a court has made a disqualification order under section 1, or who has had a disqualification undertaking accepted under section 2, of the Company Directors Disqualification Act 1986^f5; or

(g)

a person whose approval is revoked or suspended under regulation 11.

Annotations

Commencement

I1: Reg. 10 in force at 1.7.2011, see reg. 1

Footnotes

f1: 1965 c.12. There are amendments to this Act which are not relevant to these Regulations.
f2: 1979 c.34. Section 1 was amended by S.I. 1996/1189, 2001/2617 and 2538 and 2002/1501.
f3: Section 4A was inserted by the Enterprise Act 2002 (c.40), Schedule 20, paragraph 1.
f4: Sections 56A, 56F and 56G were inserted by the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), section 2.
f5: 1986 c.46, as amended by the Insolvency Act 2000 (c.39), section 5 and Schedule 4, paragraph 2, and the Enterprise Act 2002 (c.40), section 204(3).