The Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) (No. 3) Order 2014

This Order may be cited as the Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) (No. 3) Order 2014.

This Order comes into force on 27th June 2014.

Article 56 (interim permission) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2013^f1 is amended as follows.

In paragraph (3)—

Omit paragraph (3A).

In paragraph (4), for “, (2) and (3)” substitute “and (2)”.

After paragraph (4), insert—

“(4A)

For the purposes of paragraph (3)—

(a)

P is a “relevant person” if P has, in the period beginning with 2nd September 2013 and ending on 30th September 2014 (including both days), notified the FCA of P’s desire to obtain interim permission under this article and paid any fee which is provided for in rules made by the FCA for this purpose;

(b)

“the relevant date” means the day after the later of—

(i)

the day on which the local authority becomes a relevant person, and

(ii)

31st March 2014;

(c)

there is to be disregarded any activity carried on by P in the period of one year ending on 1st April 2014 in so far as it relates to an agreement secured on land.”.