After article 96 of the Regulated Activities Order (exclusion from the record where Authority has exercised its powers under Part 20 of the Act), insert—

“PART 6MISCELLANEOUS

Disapplication of section 49(2) of the Act97.

In section 49 of the Act (persons connected with an applicant for Part 4 permission), after subsection (2) insert—

“(2A)

But subsection (2) does not apply to the extent that the permission relates to—

(a)

an insurance mediation activity (within the meaning given by paragraph 2(5) of Schedule 6); or

(b)

a regulated activity involving a regulated mortgage contract.”.