Search Legislation

Advanced Search

The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015

Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendment of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

This section has no associated Explanatory Memorandum

4.—(1) The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005(1) is amended as follows.

(2) In article 55B (insolvency practitioners)(2), for “who carries on” substitute “in the course of carrying on”.

(3) In article 72F (credit agreements offered to employees by employers)(3), for paragraph (2)(a) substitute—

“(a)offered by a lender to a borrower as an incident of employment with the lender, or with an undertaking in the same group as the lender; and”.

(4) In paragraph 4B (credit broking)(4) of Schedule 1—

(a)in sub-paragraph (1)(a), after “relevant credit agreements”, insert “(other than credit agreements which are exempt agreements under the relevant provisions)”;

(b)for sub-paragraph (1)(b), substitute—

“(b)effecting an introduction of an individual or relevant recipient of credit to a person who, by way of business, enters into as owner regulated consumer hire agreements or agreements which would be regulated consumer hire agreements but for article 60O (exempt agreements: exemptions relating to nature of agreement)(5) or article 60Q (exempt agreements: exemptions relating to the nature of the hirer)(6) of the Regulated Activities Order;”

(c)in sub-paragraph (1)(d), (e) and (f), after “a relevant credit agreement”, insert “(other than a credit agreement which is an exempt agreement under the relevant provisions)”;

(d)for sub-paragraph (2), substitute—

“(2) For the purposes of paragraph (1)—

(a)“relevant provisions” are article 60E(5) (exempt agreements: exemptions relating to the nature of the lender)(7) and article 60F(exempt agreements: exemptions relating to number of repayments to be made) of the Regulated Activities Order;

(b)it is immaterial whether the relevant credit agreement or the consumer hire agreement is subject to the law of a country other than the United Kingdom.”.

(2)

Article 55B inserted by S.I. 2014/506.

(3)

Article 72F was inserted by S.I. 2014/208.

(4)

Paragraph 4B was inserted by S.I. 2013/1881 and amended by S.I. 2014/366.

(5)

Article 60O was inserted by S.I. 2013/1881 and amended by S.I. 2014/366.

(6)

Article 60Q was inserted by S.I. 2013/1881.

(7)

Article 60E and article 60F were inserted (with articles 60B to 60M) by S.I. 2013/1881. Article 60E was amended by S.I. 2014/366.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources