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The Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) Order 2014
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- UK Statutory Instruments
- 2014 No. 376
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EXPLANATORY NOTE
(This note is not part of the Order)
This Order makes transitional provision in relation to the transfer of the regulation of consumer credit from the Office of Fair Trading to the Financial Conduct Authority.
The Order amends the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881). The amendments enable a person whose Consumer Credit Act licence is subject to a suspension immediately before 1st April 2014 to obtain interim permission under the Financial Services and Markets Act 2000 where an appeal against the suspension is successful, and make transitional provision in relation to certain disciplinary and enforcement notices served by the Office of Fair Trading.
A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury, 1 Horse Guards Road, London SW1A 2HQ or on www.gov.uk and is published alongside the Order on www.legislation.gov.uk.
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