There has been published The Financial Services and Markets Act 2000 (Consumer Credit) (Designated Activities) Order 2014 (the Order) together with an explanatory memorandum.

The Order specifies debt-collecting and entering into, or exercising rights under, a regulated consumer credit agreement (in each case, as specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (as amended)) for the purposes of section 23(1B) of the Financial Services and Markets Act 2000 (the Act). However, the designation does not apply where the activity relates to an agreement under which the obligation of the borrower is secured on land. The effect of that provision is that an authorised person is guilty of an offence if that person carries on such a specified activity in the UK, otherwise than in accordance with permission under the Act.

View Financial Services and Markets Act 2000 (Consumer Credit) (Designated Activities) Order 2014, 13 February 2014

View Explanatory Memorandum to Financial Services and Markets Act 2000 (Consumer Credit) (Designated Activities) Order 2014, 13 February 2014

Leave a Reply

Your email address will not be published. Required fields are marked *