# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 60HA: Exempt agreements: provision qualifying articles 60E and 60F

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

(1) A credit agreement entered into on or after 21st March 2016 is not an exempt agreement pursuant to article 60E(2) or (5) or 60F(4) if it is a mortgage agreement to which paragraph (2) does not apply.
(2) This paragraph applies to an agreement if—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) the agreement is a bridging loan within the meaning given by article 60G(9); or
(c) the agreement is a restricted public loan in respect of which—
(i) the borrower receives timely information on the main features, risks and costs at the pre-contractual stage; and
(ii) any advertising is fair, clear and not misleading.
(3) In paragraph (2)(c) “restricted public loan” means a credit agreement that is—
(a) offered to a particular class of borrower and not offered to the public generally;
(b) offered under an enactment with a general interest purpose; and
(c) provided on terms which are more favourable to the borrower than those prevailing on the market, because it meets one of the following conditions—
(i) it is interest free;
(ii) the rate of interest is lower than that prevailing on the market; or
(iii) the rate of interest is no higher than that prevailing on the market but the other terms on which credit is provided are more favourable to the borrower.

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/60HA (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-60HA
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.