67A

After article 5 (exemption of certain consumer credit agreements having a connection with a country outside the United Kingdom), insert—

5A

1

The Act shall not regulate a consumer credit agreement concluded with—

a

an investment firm, or

b

a credit institution,

for the purposes of allowing a debtor to carry out a transaction relating to one or more of the instruments listed in Section C of Annex 1 to MIFID, where the investment firm or credit institution providing the credit is involved in that transaction.

2

In this article—

• “credit institution” means an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits on its own account;

• “investment firm” has the meaning given in article 4.1.1 of MIFID;

• “MIFID” means Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments.