PART 2Financial services
Enforceability of agreements
27Enforceability of agreements relating to credit
1
Section 26A of the Financial Services and Markets Act 2000 (agreements relating to credit) is amended as follows.
2
In subsection (4)—
a
the words from “has” to the end become paragraph (a);
b
after that paragraph insert—
b
is an appointed representative in relation to that activity,
c
is an exempt person in relation to that activity, or
d
is a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.
3
In subsection (5)—
a
the words from “the agreement” (in the third place they occur) to the end become paragraph (a) (and the existing paragraphs (a) and (b) become sub-paragraphs (i) and (ii) of that paragraph);
b
after that paragraph insert—
b
that person is an appointed representative in relation to that activity,
c
that person is an exempt person in relation to that activity, or
d
that person is a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.