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The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
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Changes over time for: Section 60S
Version Superseded: 01/04/2014
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- 14/02/2014- Amendment
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[F1[F2Meaning of consumer etc.U.K.
60S.—(1) For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”), in so far as those provisions relate to a person (“A”) carrying on a regulated activity of the kind specified by—
(a)article 60N (regulated consumer hire agreements), or
(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60N,
a person who is treated by A as a person who is or has been the hirer under a regulated consumer hire agreement is to be treated as a “consumer”.
(2) For the purposes of section 328(8) of the Act (meaning of “clients”) in so far as that provision relates to a person (“A”) carrying on a regulated activity of the kind specified by—
(a)article 60N (regulated consumer hire agreements), or
(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60N,
a person who is treated by A as a person who is or has been the hirer under a regulated consumer hire agreement is to be treated as a “client”.
(3) In this article, “hirer” includes (in addition to those persons defined as “the hirer” in the definition of “consumer hire agreement” in article 60N(3))—
(a)any person providing a guarantee or indemnity under a consumer hire agreement, and
(b)a person to whom the rights and duties of a person falling within sub-paragraph (a) have passed by assignment or operation of law.]]
Textual Amendments
F1Pt. 2 Chs. 14A, 14B inserted (26.7.2013 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2), 6
F2Art. 60S and cross-heading inserted (14.2.2014 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), art. 1(3)(4), 2(37)
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