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Article 19 The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013I1I2

United Kingdom

(1)

The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013f1 is amended as follows.

(2)

In article 56 (interim permission)—

(a)

in paragraph (3), after “regulated activities” insert “of the kind specified by article 60B (regulated credit agreements)”;

(b)

after paragraph (3), insert—

“(3A)

For the purposes of paragraph (3), 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.”;

(c)

in paragraph (9)—

(i)

in the opening words of that paragraph, for “61” substitute “59”;

(ii)

in sub-paragraph (a), for “commencement” substitute “1st April 2014”.

(3)

In article 58 (duration of interim permission), after F1paragraph (5), insert—

“F2(6)

Where P’s interim permission ceases to have effect in accordance with paragraph (1)—

(a)

F3paragraph (7) applies in respect of an act or omission by P which occurred at a time when P had an interim permission;

(b)

any requirement—

(i)

imposed on P under section 55L, 55M or 404F(7) of the Act at a time when P had an interim permission, and

(ii)

which is in effect immediately before that interim permission ceases to have effect,

continues to have effect and paragraph (7) applies in respect of any contravention of that requirement.

(7)

If P is no longer an authorised person, P is to be treated as an authorised person for the purposes of the following provisions of the Act—

(a)

Part 11 (information gathering and investigations) and Part 14 (disciplinary measures);

(b)

section 384 of the Act (power of FCA or PRA to require restitution).”.

F4(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Words in art. 19(3) substituted (30.3.2014) by The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) (No. 2) Order 2014 (S.I. 2014/506), arts. 1(2), 6(4)(a)

F2

Art. 19(3): new paragraphs renumbered as (6)(7) (30.3.2014) by The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) (No. 2) Order 2014 (S.I. 2014/506), arts. 1(2), 6(4)(b)

F3

Words in art. 19(3) substituted (30.3.2014) by The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) (No. 2) Order 2014 (S.I. 2014/506), arts. 1(2), 6(4)(c)

F4

Art. 19(4) revoked (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 9 (with reg. 3)

Commencement

I1

Art. 19(1)-(3) in force at 14.2.2014 for specified purposes (as amended by S.I. 2014/506, art. 6(2)(b)) , see art. 1(3)

I2

Art. 19(1)-(3) in force at 1.4.2014 in so far as not already in force (as amended by S.I. 2014/506, art. 6(2)(b)), see art. 1(3)

Footnotes

f1

S.I. 2013/1881.