# The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, Paragraph 5A: Debt adjusting

Extent: E+W+S+N.I.

(1) The following activities are, when carried on in relation to debts due under a relevant credit agreement, controlled activities—
(a) negotiating with the lender, on behalf of the borrower, terms for the discharge of a debt;
(b) taking over, in return for payments by the borrower, that person’s obligation to discharge a debt;
(c) any similar activity concerned with the liquidation of a debt.
(2) The following activities are, when carried on in relation to debts due under a consumer hire agreement, controlled activities—
(a) negotiating with the owner, on behalf of the hirer, terms for the discharge of a debt;
(b) taking over, in return for payments by the hirer, that person’s obligation to discharge a debt;
(c) any similar activity concerned with the liquidation of a debt.

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Source: https://www.legislation.gov.uk/uksi/2005/1529/schedule/1/paragraph/5A (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-financial-promotion-order-2005/schedule-1/paragraph-5A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.