{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-appointed-representatives-amendment-regulations-2014/note",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-appointed-representatives-amendment-regulations-2014/note.json",
  "legislation": "uksi/2014/206",
  "legislation_title": "The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-appointed-representatives-amendment-regulations-2014",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 (S.I. 2001/1217) (“the Appointed Representatives Regulations”).\nThe effect of the amendment made by regulation 2(2) is to permit a person with permission to carry on the regulated activity of operating an electronic system in relation to lending to appoint a representative without the representative requiring authorisation under the Financial Services and Markets Act 2000 (c.8) (“the Act”) to undertake that activity. The effect of the amendment made by regulation 2(3) is to specify circumstances in which a person is to be treated as representing other operators of electronic systems.\nRegulation 2(4) amends the Appointed Representatives Regulations so as to prescribe descriptions of business and kinds of regulated activities which are related to consumer credit for the purposes of section 39(1C) to (1E) of the Act. Generally, an authorised person may not make use of the exemption from authorisation available to appointed representatives. The effect of the amendments in regulation 2(4) is that an authorised person who has permission under the Act only in relation to certain consumer credit-related regulated activities may act as an appointed representative in respect of any of the activities which appointed representatives may undertake without permission.\nA full impact assessment of the effect that these Regulations 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.gov.uk and is published alongside the Regulations on www.legislation.gov.uk.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/206/note",
    "retrieved_at": "2026-10-29T00:28:01.677365+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}