Article 4 Amendment of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

in sub-paragraph (1)(a), after “relevant credit agreements”, insert “(other than credit agreements which are exempt agreements under the relevant provisions)”;

for sub-paragraph (1)(b), substitute—

“(b)

effecting an introduction of an individual or relevant recipient of credit to a person who, by way of business, enters into as owner regulated consumer hire agreements or agreements which would be regulated consumer hire agreements but for article 60O (exempt agreements: exemptions relating to nature of agreement)^f5 or article 60Q (exempt agreements: exemptions relating to the nature of the hirer)^f6 of the Regulated Activities Order;”

in sub-paragraph (1)(d), (e) and (f), after “a relevant credit agreement”, insert “(other than a credit agreement which is an exempt agreement under the relevant provisions)”;

for sub-paragraph (2), substitute—

“(2)

For the purposes of paragraph (1)—

(a)

“relevant provisions” are article 60E(5) (exempt agreements: exemptions relating to the nature of the lender)^f7 and article 60F(exempt agreements: exemptions relating to number of repayments to be made) of the Regulated Activities Order;

(b)

it is immaterial whether the relevant credit agreement or the consumer hire agreement is subject to the law of a country other than the United Kingdom.”.