Explanatory note

The Order specifies debt-collecting and entering into, or exercising rights under, a regulated consumer credit agreement (in each case, as specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 S.I. 2001/544, as amended by S.I. 2013/1881) for the purposes of section 23(1B) of the Financial Services and Markets Act 2000, except where the activity relates to an agreement under which the obligation of the borrower is secured on land. The effect of that provision is that an authorised person (within the meaning of that Act) is guilty of an offence if that person caries on such a specified activity in the United Kingdom otherwise than in accordance with permission under the Act.

A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury, 1 Horse Guards Road, London SW1A 2HQ or on www.hm-treasury.gov.uk and is published alongside the Order on www.legislation.gov.uk.