PART II SPECIFIED ACTIVITIES

Chapter XVRegulated Mortgage Contracts

Exclusions

Arranging administration by authorised personI162

A person who is not an authorised person does not carry on an activity of the kind specified by article 61(2) in relation to a regulated mortgage contract where he—

a

arranges for another person, being an authorised person with permission to carry on an activity of that kind, to administer the contract; or

b

administers the contract himself during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Annotations:
Commencement Information
I1

Art. 62 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)

Administration pursuant to agreement with authorised personI263

A person who is not an authorised person does not carry on an activity of the kind specified by article 61(2) in relation to a regulated mortgage contract where he administers the contract pursuant to an agreement with an authorised person who has permission to carry on an activity of that kind.

Annotations:
Commencement Information
I2

Art. 63 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)

F5Other exclusions63A

Article 61 is also subject to the exclusions in articles 66 (trustees etc.), 72 (overseas persons) F3,F2... F4 72AA (managers of F6UK UCITS and AIFs) F1, 72G (local authorities) and 72I (registered consumer buy-to-let mortgage firms).