SCHEDULE 1
PART IControlled Activities
Credit broking4B
1
Each of the following is a controlled activity—
a
effecting an introduction of an individual or relevant recipient of credit to a person who enters into as lender relevant credit agreements F2(other than credit agreements which are exempt agreements under the relevant provisions) by way of business;
F3b
effecting an introduction of an individual or relevant recipient of credit to a person who, by way of business, enters into as owner regulated consumer hire agreements or agreements which would be regulated consumer hire agreements but for article 60O (exempt agreements: exemptions relating to nature of agreement) or article 60Q (exempt agreements: exemptions relating to the nature of the hirer) of the Regulated Activities Order;
c
effecting an introduction of an individual or relevant recipient of credit to a person who carries on an activity of the kind specified in paragraph (a) or (b) by way of business;
d
presenting or offering an agreement which would (if entered into) be a relevant credit agreement F4(other than a credit agreement which is an exempt agreement under the relevant provisions) to an individual or relevant recipient of credit;
e
assisting an individual or relevant recipient of credit by undertaking preparatory work in respect of a relevant credit agreement F5(other than a credit agreement which is an exempt agreement under the relevant provisions);
f
entering into a relevant credit agreement F6(other than a credit agreement which is an exempt agreement under the relevant provisions) on behalf of a lender.
F11A
But an activity is not a controlled activity falling within sub-paragraph (1) to the extent that it is a controlled activity falling within paragraph 10A (arranging qualifying credit etc.).
F72
For the purposes of paragraph (1)—
a
“relevant provisions” are article 60E(5) (exempt agreements: exemptions relating to the nature of the lender) and article 60F(exempt agreements: exemptions relating to number of repayments to be made) of the Regulated Activities Order;
b
it is immaterial whether the relevant credit agreement or the consumer hire agreement is subject to the law of a country other than the United Kingdom.