Money advisers

Approved categories of money advisers3

Subject to regulation 4, the following classes of persons are prescribed for the purposes of section 5C(2)(b) of the Act as money advisers—

a

persons who—

i

are qualified to act as insolvency practitioners in accordance with section 390 of the Insolvency Act 19864; or

ii

work for such an insolvency practitioner, who have been given authority by that insolvency practitioner to act on his or her behalf in providing money advice under the Act; and

b

persons who—

i

work as money advisers for organisations which have been awarded accreditation at Type 2 level or above against the Scottish National Standards for Information and Advice Provision; or

ii

are approved for the purposes of the Debt Arrangement Scheme5; or

iii

work as money advisers for a citizens advice bureau which is a full member of the Scottish Association of Citizens Advice Bureaux – Citizens Advice Scotland; or

iv

work as money advisers for councils constituted under section 2 of the Local Government etc. (Scotland) Act 19946.