Search Legislation

The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) Order 2014

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening Options

Changes over time for: Section 3

 Help about opening options

Alternative versions:

Changes to legislation:

There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) Order 2014. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.

View outstanding changes

Changes and effects yet to be applied to Article 3:

Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:

The Financial Services (Distance Marketing) Regulations 2004U.K.

This section has no associated Explanatory Memorandum

3.—(1) The Financial Services (Distance Marketing) Regulations 2004(1) are amended as follows.

(2) In regulation 2 (interpretation)—

(a)after the definition of “business” insert—

“the CMA” means the Competition and Markets Authority;;

(b)omit the definition of “the OFT”;

(c)after the definition of “regulated consume credit agreement”, insert—

“the relevant regulator” means—

(a)

in relation to a specified contract (within the meaning given in regulation 17) or any alleged breach concerning such a contract, the Authority; and

(b)

in relation to any other contract or any alleged breach concerning such a contract, the CMA;.

(3) In regulation 17 (enforcement authorities)—

(a)in paragraph (1)—

(i)in sub-paragraph (a), for “, the Authority is an enforcement authority” substitute—

(i)the Authority, and

(ii)where the contract is a consumer credit contract—

(aa)in Great Britain, every local weights and measures authority, and

(bb)in Northern Ireland, the Department of Enterprise, Trade and Investment,

is an enforcement authority;

(ii)in sub-paragraph (b), for “OFT” substitute “CMA”;

(iii)in sub-paragraph (c)(i), for “OFT” substitute “CMA”;

(b)in paragraph (2)—

(i)in sub-paragraph (a), at the end, insert “or an activity which would constitute a regulated activity carried on by the supplier but for any of articles 60C to 60H of the Regulated Activities Order(2)”;

(ii)in sub-paragraph (c), omit “or a supplier to whom the Authority has given a certificate under article 9C of the Regulated Activities Order (persons certified as small issuers etc)”;

(c)after paragraph (2), insert—

(2A) For the purposes of paragraph (1) and regulation 22(6), a “consumer credit contract” means a contract the making or performance of which constitutes or is part of a regulated activity of the kind specified by a provision of the Regulated Activities Order listed in paragraph (2B) carried on by the supplier.

(2B) The provisions are—

(a)article 36A (credit broking);

(b)article 36H (operating an electronic system in relation to lending);

(c)article 39D (debt adjusting);

(d)article 39E (debt-counselling);

(e)article 39F (debt-collecting);

(f)article 39G (debt administration);

(g)article 60B (regulated credit agreements);

(h)article 60N (regulated consumer hire agreements);

(i)article 89A (providing credit information services);

(j)article 89B (providing credit references);

(k)article 64 (agreeing to carry on specified kinds of activity) in so far as it relates to an activity of the kind specified by a provision listed in sub-paragraphs (a) to (j)..

(4) In regulation 18 (consideration of complaints)—

(a)in paragraph (1)(b), for “has notified the OFT that it agrees” substitute “has agreed, by notifying that authority or the relevant regulator,”;

(b)in paragraph (2), for “the OFT” substitute “another enforcement authority or the relevant regulator”.

(5) In regulation 19(2) (injunctions to secure compliance)—

(a)for “OFT”, in each place, substitute “relevant regulator”;

(b)omit “or the Authority”.

(6) In the heading to regulation 20 (notification of undertakings and orders to the OFT), for “OFT” substitute “relevant regulator”.

(7) In regulation 20—

(a)for “OFT”, in each place, substitute “relevant regulator”;

(b)omit “and the Authority”.

(8) In regulation 21 (publication, information and advice)—

(a)in paragraph (1), for “OFT” substitute “relevant regulator”;

(b)in paragraphs (2) and (3), for “OFT and the Authority” substitute “relevant regulator”.

(9) In regulation 22(6) (offences)—

(a)after sub-paragraph (a), insert—

(aa)in Great Britain, every local weights and measures authority and, in Northern Ireland, the Department of Enterprise, Trade and Investment may institute proceedings for an offence under these Regulations which relates to a consumer credit contract;;

(b)in sub-paragraph (b), for “OFT” substitute “CMA”.

Commencement Information

I1Art. 3 in force at 26.2.2014 for specified purposes, see art. 1(3)

I2Art. 3 in force at 1.4.2014 in so far as not already in force, see art. 1(4)

(1)

S.I. 2004/2095; amended by S.I. 2013/472, S.I. 2011/99 and S.I. 2013/1881. There are other amending instruments but none is relevant

(2)

Regulation 2 of S.I. 2004/2095 defines “the Regulated Activities Order” as meaning the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, S.I. 2001/544; articles 60C to 60H of that Order inserted by S.I. 2013/1881; article 9C inserted by S.I. 2002/682 and amended by S.I. 2006/3221 and S.I. 2013/472.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources