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The Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019

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The Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019, PART 3 is up to date with all changes known to be in force on or before 12 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Changes and effects yet to be applied to Part 3:

PART 3U.K.European Union (Withdrawal) Act 2018: amendment of the 2004 Regulations

Amendment of the 2004 RegulationsU.K.

4.  The 2004 Regulations are amended as follows.

Commencement Information

I1Reg. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Amendment of regulation 2U.K.

5.  In regulation 2(1) (interpretation)—

(a)omit the definition of “the European Consumer Credit Information form”M1;

(b)after the definition of “means of distance communication”, insert—

the Pre-Contract Credit Information (Overdrafts) form” means the form set out in Schedule 3 to the Disclosure of Information Regulations;.

Commencement Information

I2Reg. 5 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M1The definition of “the European Consumer Credit Information form” was inserted by S.I. 2010/1010.

Amendment of regulation 4U.K.

6.  In regulation 4 (scope)—

(a)for paragraph (1) substitute—

(1) Regulations 7 to 11 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—

(a)a payments supplier,

(b)a relevant EEA AIFM, or

(c)the operator, trustee or depositary of a relevant recognised scheme.

(1A) Regulations 12 and 13 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—

(a)an authorised person, or

(b)a payments supplier.

(1B) Regulation 15 does not apply in relation to any supply of financial services by an EEA supplier from an establishment in an EEA State to a consumer in the United Kingdom unless the EEA supplier is—

(a)a payments supplier,

(b)a relevant EEA AIFM, or

(c)the operator, trustee or depositary of a relevant recognised scheme

(1C) For the purposes of paragraphs (1) to (1B)—

payments supplier” means an EEA supplier to whom paragraph 2 or 14 of Schedule 3 to the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 applies;

relevant EEA AIFM” means an EEA AIFM (within the meaning given in regulation 78A(1)(b) of the Alternative Investment Fund Managers Regulations 2013) to whom regulation 78B of those Regulations applies.M2.

(b)in paragraph (6), for “paragraph (5)” substitute “ paragraphs (1), (1B) and (5) ”.

Commencement Information

I3Reg. 6 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

Amendment of regulation 7U.K.

7.  In regulation 7 (information required prior to the conclusion of the contract)—

(a)in paragraph (1A) M3, omit “, 17”;

(b)in paragraph (7)(a) for “European Consumer Credit Information form” substitute “ Pre-contract Credit Information (Overdrafts) form ”.

Commencement Information

I4Reg. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M3Paragraph (1A) of regulation 7 was inserted by S.I. 2009/209 and amended by S.I. 2017/752.

Amendment of regulation 8U.K.

8.  In regulation 8 (written and additional information)—

(a)in paragraph (1A) M4, omit “, 17”;

(b)in paragraph (1C)(a)(i) M5, for “European Consumer Credit Information form” substitute “ Pre-contract Credit Information (Overdrafts) form ”.

Commencement Information

I5Reg. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M4Paragraph (1A) of regulation 8 was inserted by S.I. 2009/209 and amended by S.I. 2017/752

M5Paragraph (1C) of regulation 8 was inserted by S.I. 2010/1010.

Amendment of regulation 16U.K.

9.  In regulation 16 (prevention of contracting-out), for paragraph (3) substitute—

(3) These Regulations apply despite any contract term which applies or purports to apply the law of a country other than the United Kingdom, if the contract or supply has a close connection with the United Kingdom or any part of the United Kingdom..

Commencement Information

I6Reg. 9 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Amendment of Schedule 1U.K.

10.  In Schedule 1 (information required prior to the conclusion of the contract)—

(a)in paragraph 2, for “consumer's State of residence” substitute “ United Kingdom ”;

(b)omit paragraph 17;

(c)in paragraph 21, for “except to” to the end substitute “ as applicable to the contract ”.

Commencement Information

I7Reg. 10 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

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