Article 53B Advising on regulated home reversion plansF1

United Kingdom

Advising a person is a specified kind of activity if the advice—

(a)

is given to the person in his capacity as—

(i)

a reversion seller or potential reversion seller, or

(ii)

a plan provider or potential plan provider; and

(b)

is advice on the merits of his doing either of the following—

(i)

entering into a particular regulated home reversion plan, or

(ii)

varying the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him, in such a way as to vary his obligations under that plan.

Annotations

Textual amendments

F1: Arts. 53B, 53C inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383), arts. 1(2), 13