Financial Services and Markets Act 2000

InterpretationU.K.

This section has no associated Explanatory Notes

[F1[F22G.(1)In this Part of this Schedule, each of the following is a “relevant credit activity”—

(a)an activity of the kind specified by article 36A of the Regulated Activities Order (credit broking) when carried on in the case specified in sub-paragraph (3), (4) or (5),

(b)an activity of the kind specified by article 39D of that Order (debt adjusting) when carried on—

(i)in the case specified in sub-paragraph (3), by a person who also carries on an activity of the kind specified by paragraph (a),

[F3(ii)by a person in connection with an activity of the kind specified by paragraph (d) or (e) which the person also carries on,]

(iii)by a not-for-profit body,

(c)an activity of the kind specified by article 39E of that Order (debt-counselling) when carried on—

(i)in the case specified in sub-paragraph (3), by a person who also carries on an activity of the kind specified by paragraph (a),

[F4(ii)by a person in connection with an activity of the kind specified by paragraph (d) or (e) which the person also carries on,]

(iii)by a not-for-profit body,

(d)an activity of the kind specified by article 60B of that Order (regulated credit agreements) if—

(i)it is carried on by a supplier,

(ii)no charge (by way of interest or otherwise) is payable by the borrower in connection with the provision of credit under the regulated credit agreement, and

(iii)the regulated credit agreement is not a hire-purchase agreement or a conditional sale agreement,

[F5(da)an activity of the kind specified by article 60B of that Order (regulated credit agreements) if carried on by a local authority,]

(e)an activity of the kind specified by article 60N of that Order (regulated consumer hire agreements),

(f)an activity of the kind specified by article 89A of that Order (providing credit information services) where carried on by a person [F6in connection with an activity of the kind specified by any of paragraphs (a) to (e) which the person also carries on], or

(g)an activity of the kind specified by article 64 of that Order (agreeing to carry on specified kinds of activity) so far as relevant to any of the activities specified in paragraphs (a) to (f).

(2)[F7Except where the activity is carried on by a not-for-profit body,] an activity is not a relevant credit activity for the purposes of—

(a)paragraph (a) to (e) of sub-paragraph (1), and

(b)paragraph (g) of that sub-paragraph so far at it relates to activities of the kind specified by any of those paragraphs,

if it relates to an agreement under which the obligation of the borrower to repay [F8or the hirer to pay] is secured, or is to be secured, by a legal mortgage on land.

(3)The case specified in this sub-paragraph is where a supplier (other than a domestic premises supplier) carries on the activity for the purposes of, or in connection with, the sale of goods or supply of services by the supplier to a customer (who need not be the borrower under the credit agreement or the hirer under the consumer hire agreement).

[F9(3A)For the purposes of sub-paragraph (3), “domestic premises supplier” means a supplier who—

(a)sells, offers to sell or agrees to sell goods, or

(b)offers to supply services or contracts to supply services,

to customers who are individuals while the supplier, or the supplier’s representative, is physically present at the dwelling of the individual (but see sub-paragraph (3B)).

(3B)A supplier who acts as described in sub-paragraph (3A) on an occasional basis only will not be a domestic premises supplier unless the supplier indicates to the public at large, or any section of the public, the supplier’s willingness to attend (in person or through a representative) the dwelling of potential customers in order to carry on any of the activities mentioned in sub-paragraph (3A)(a) or (b).]

(4)The case specified in this sub-paragraph is where the activity relates to a green deal plan.

[F10(5)The case specified in this sub-paragraph is where the activity relates to a consumer hire agreement or a hire-purchase agreement.]

(6)For the purposes of this paragraph—

  • “borrower” includes—

    (a)

    any person providing a guarantee or indemnity under an agreement, and

    (b)

    a person to whom the rights and duties of the borrower under an agreement or a person falling within paragraph (a) have passed by assignment or operation of law;

  • “conditional sale agreement” has the meaning given by article 60L of the Regulated Activities Order;

  • [F11“consumer hire agreement” has the meaning given by article 60N(3) of the Regulated Activities Order;]

  • “customer” means a person to whom a supplier sells goods or supplies services or agrees to do so;

  • F12...

  • “green deal plan” has the meaning given by section 1 of the Energy Act 2011;

  • “hire-purchase agreement” has the meaning given by the Regulated Activities Order;

  • [F13“local authority” means—

    (a)

    in England and Wales, a local authority within the meaning of the Local Government Act 1972, the Greater London Authority, the Common Council of the City of London or the Council of the Isles of Scilly;

    (b)

    in Scotland, a local authority within the meaning of the Local Government (Scotland) Act 1973; and

    (c)

    in Northern Ireland, a district council within the meaning of the Local Government Act (Northern Ireland) 1972;]

  • “not-for-profit body” means a body which, by virtue of its constitution or any enactment—

    (a)

    is required (after payment of outgoings) to apply the whole of its income and any capital it expends for charitable or public purposes, and

    (b)

    is prohibited from directly or indirectly distributing amongst its members any part of its assets (otherwise than for charitable or public purposes);

  • “Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;

  • “regulated credit agreement” has the meaning given by the Regulated Activities Order;

  • “supplier” means a person whose main business is to sell goods or supply services and not to carry on a regulated activity, other than an activity of the kind specified by article 60N of the Regulated Activities Order (regulated consumer hire agreements).]]

Textual Amendments

F2Sch. 6 para. 2G inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 10(19)(d)

F3Sch. 6 para. 2G(1)(b)(ii) substituted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(a)(i)

F4Sch. 6 para. 2G(1)(c)(ii) substituted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(a)(ii)

F5Sch. 6 para. 2G(1)(da) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(a)(iii)

F6Words in Sch. 6 para. 2G(1)(f) substituted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(a)(iv)

F7Words in Sch. 6 para. 2G(2) substituted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(b)(i)

F8Words in Sch. 6 para. 2G(2) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(b)(ii)

F13Words in Sch. 6 para. 2G(6) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 5(5)(c)