Applications under section 28A of the Financial Services and Markets Act 2000
2.—(1) Section 55U(4), (5), (7) and (8) of the Financial Services and Markets Act 2000 (applications under this Part)(1) apply to an application made under section 28A of that Act (credit-related agreements made unenforceable by section 26, 26A or 27)(2) as if the application were an application made to the FCA under Part 4A of that Act (permission to carry on regulated activities)(3).
(2) Where a person (“A”) has the right to exercise rights under an agreement entered into by another person (“B”), section 28A of the Financial Services and Markets Act 2000 applies as if the references to the relevant firm in subsections (3) and (7) of that section include a reference to A.
Section 55U substituted by the Financial Services Act 2012 (c.21), section 11.
Section 28A inserted by Financial Services Act 2012, Schedule 9, Part 2, paragraph 8
Part 4A substituted by the Financial Services Act 2012, section 11.