PART II SPECIFIED ACTIVITIES
F1Chapter 14ARegulated Credit Agreements
The activities
Exempt agreements: exemptions relating to the nature of the borrower60H
A credit agreement is an exempt agreement for the purposes of this Chapter if—
a
the borrower is an individual,
b
the agreement is either—
i
secured on land, or
ii
for credit which exceeds £60,260,
c
the agreement includes a declaration made by the borrower which provides that the borrower agrees to forgo the protection and remedies that would be available to the borrower if the agreement were a regulated credit agreement and which complies with rules made by the FCA for the purposes of this paragraph,
d
a statement has been made in relation to the income or assets of the borrower which complies with rules made by the FCA for the purposes of this paragraph,
e
the connection between the statement and the agreement complies with any rules made by the FCA for the purposes of this paragraph (including as to the period of time between the making of the statement and the agreement being entered into), and
f
a copy of the statement was provided to the lender before the agreement was entered into.
Pt. II Ch. 14A, 14B 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), art. 1(2)(6), 6