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The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
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The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Section 60M is up to date with all changes known to be in force on or before 05 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1Total charge for creditU.K.
60M.—(1) The FCA may make rules specifying how the total charge for credit to the borrower under a credit agreement is to be determined for the purposes of this Chapter.
(2) Rules made under paragraph (1) may in particular—
(a)specify how the total charge for credit to a person who is, or is to become, the borrower under a credit agreement is to be determined;
(b)specify what items are to be included in determining the total charge for credit and how the value of those items is to be determined;
(c)specify the method of calculating the rate of the total charge for credit;
(d)provide for the whole or part of the amount payable by the borrower or a relative of the borrower under a linked transaction (within the meaning given by article 60E(8)) to be included in the total charge for credit, whether or not the lender is a party to the transaction or derives a benefit from it.]
Textual Amendments
F1Pt. 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
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