Amendments to the principal Regulations

6.  In regulation 5—

(a) for sub-paragraph (b) of paragraph (3) there shall be substituted—

“(b) that the person referred to as C in the principal section is an approved lender, and any person acting for C in connection with the arrangement as an agent or nominee is an approved agent or, as the case may be, an approved nominee;”;

(b) in paragraph (4)—

(i) immediately before the definition of “approved borrower” there shall be inserted—

““approved agent” means a person who, at the time when the arrangement is made, is approved as an agent by the Board for the purposes of this regulation;”;

(ii) after the definition of “approved moneybroker” there shall be inserted—

““approved nominee” means a person who, at the time when the arrangement is made, is approved as a nominee by the Board for the purposes of this regulation;”.