PART 2Amendments to the Act

CHAPTER 17Part 29 of the Act: interpretation of the Act

Section 425A (consumers: regulated activities etc carried on by authorised persons)91.

(1)

Section 425A M1 (consumers: regulated activities etc carried on by authorised persons) is amended as follows.

(2)

In subsection (3)(b), for “credit institutions” substitute “ qualifying credit institutions ”.

(3)

In subsection (7) M2—

(a)

omit the definition of “credit institution”M3;

(b)

in the definition of “relevant ancillary service”, for “Section B of Annex I to the markets in financial instruments directive” substitute “ Part 3A of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) ”.