# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 60N: Regulated consumer hire agreements

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

(1) Entering into a regulated consumer hire agreement as owner is a specified kind of activity.
(2) It is a specified kind of activity for the owner or another person to exercise, or to have the right to exercise, the owner’s rights and duties under a regulated consumer hire agreement.
(3) In this Chapter—
“consumer hire agreement” means an agreement between a person (“the owner”) and an individual or relevant recipient of credit (“the hirer”) for the bailment or, in Scotland, the hiring, of goods to the hirer which—
(a)is not a hire-purchase agreement, and
(b)is capable of subsisting for more than three months;
“exempt agreement” means a consumer hire agreement which is an exempt agreement under articles 60O to 60Q;
“owner” means—
(a)the person who bails or, in Scotland, hires, goods under a ... consumer hire agreement, or
(b)a person who exercises or has the right to exercise the rights and duties of a person who bailed or, in Scotland, hired, goods under such an agreement;
“regulated consumer hire agreement” means—
(a)in the case of an agreement entered into on or after 1st April 2014, any consumer hire agreement which is not an exempt agreement; or
(b)in the case of an agreement entered into before 1st April 2014, a consumer hire agreement which—
(i)was a regulated agreement within the meaning of section 189(1) of the Consumer Credit Act 1974 when the agreement was entered into; or
(ii)became such a regulated agreement after being varied or supplemented by another agreement before 1st April 2014.

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