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The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

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Changes over time for: Section 53A

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Point in time view as at 21/03/2016.

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The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Section 53A is up to date with all changes known to be in force on or before 04 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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[F1Advising on regulated mortgage contractsU.K.

53A.(1) Advising a person is a specified kind of activity if the advice—

(a)is given to the person in his capacity as a borrower or potential borrower; and

(b)is advice on the merits of his doing any of the following—

(i)entering into a particular regulated mortgage contract, or

(ii)varying the terms of a regulated mortgage contract [F2falling within paragraph (1A)] entered into by him F3... in such a way as to vary his obligations under that contract.

[F4(1A) A regulated mortgage contract falls within this paragraph if—

(a)the contract was entered into on or after 31st October 2004; or

(b)the contract—

(i)was entered into before 31st October 2004; and

(ii)was a regulated credit agreement immediately before 21st March 2016.]

(2) In this article, “borrower” has the meaning given by article 61(3)(a)(i).]

Textual Amendments

F2Words in art. 53A(1)(b)(ii) inserted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(7)(a)(i) (with Pt. 5)

F3Words in art. 53A(1)(b)(ii) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(7)(a)(ii) (with Pt. 5)

F4Art. 53A(1A) inserted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(7)(b) (with Pt. 5)

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