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The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003
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Disapplication of section 155 in relation to authorised persons and appointed representatives
22.—(1) Section 155 of the Consumer Credit Act 1974 (right to recover brokerage fees) (1) is amended as follows.
(2) At the start of subsection (1), insert “Subject to subsection (2A),”.
(3) After subsection (2) insert—
“(2A) But subsection (1) does not apply where—
(a)the fee or commission relates to the effecting of an introduction of a kind mentioned in section 146(5A); and
(b)the person charging that fee or commission is an authorised person or an appointed representative, within the meaning of the Financial Services and Markets Act 2000.”.
(1)
Amended by S.I. 1998/997.
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