The Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) (No. 3) Order 2014

The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2013

2.—(1) Article 56 (interim permission) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2013(1) is amended as follows.

(2) In paragraph (3)—

(a) for “1st April 2014” substitute “the relevant date”;

(b) for “that date” substitute “1st April 2014”.

(3) Omit paragraph (3A).

(4) In paragraph (4), for “, (2) and (3)” substitute “and (2)”.

(5) After paragraph (4), insert—

“(4A) For the purposes of paragraph (3)—

(a) P is a “relevant person” if P has, in the period beginning with 2nd September 2013 and ending on 30th September 2014 (including both days), notified the FCA of P’s desire to obtain interim permission under this article and paid any fee which is provided for in rules made by the FCA for this purpose;

(b) “the relevant date” means the day after the later of—

(i) the day on which the local authority becomes a relevant person, and

(ii) 31st March 2014;

(c) there is to be disregarded any activity carried on by P in the period of one year ending on 1st April 2014 in so far as it relates to an agreement secured on land.”.

(1)

S.I. 2013/1881. Article 56 was amended by S.I. 2014/366 and S.I. 2014/376.