The Mortgage Credit Directive Order 2015

FCA power to direct timing of applications for permission and registration U.K.

32.—(1) This article applies to an application made before 21st September 2015 for—

(a) a Part 4A permission or a variation of a Part 4A permission in relation to an activity of the kind specified by—

(i) article 53A M1 of the Regulated Activities Order (advising on regulated mortgage contracts),

(ii) article 25A M2 (arranging regulated mortgage contracts) or 61 M3 (entering into and administering regulated mortgage contracts) of the Regulated Activities Order as amended by this Order, or

(iii) article 53DA of the Regulated Activities Order (advising on regulated credit agreements for the acquisition of land) as inserted by this Order; or

(b) entry on the register of consumer buy-to-let mortgage firms under article 8 of this Order (register of consumer buy-to-let mortgage firms).

(2) The application may not be made before such date (“the opening date”) as the FCA may direct.

(3) Directions given under paragraph (2) may—

(a) relate to different categories of applications;

(b) set different opening dates for different categories of applications;

(c) be amended by the FCA by further direction.

(4) An application made before the opening date is to be treated as if it had not been made.

Marginal Citations

M1 Article 53A was inserted by S.I. 2003/1475.

M2 Article 25A was inserted by S.I. 2003/1475.

M3 Article 61 was amended by S.I. 2001/3544, 2005/2114, 2006/2383 and 2010/2960.