The Mortgage Credit (Amendment) (EU Exit) Regulations 2019

Article 4 (interpretation of this Part)

5.—(1) Article 4 is amended as follows.

(2) In paragraph (1)—

(a) in the definition of “buy-to-let mortgage contract” for paragraph (b)(i) substitute—

“(i) falls within section 423A(2)(b) of the Act, and”;

(b) after the definition of “decision notice” insert—

““durable medium” means any instrument which enables a consumer to store information which is addressed personally to the consumer in a way accessible for future reference for a period of time adequate for the purposes for which the information is provided and which allows the unchanged reproduction of the information stored;”;

(c) after the definition of “related person” omit “and” and insert—

““staff” means—

(a)

any individual working for a creditor or credit intermediary who—

(i)

is directly engaged in consumer buy-to-let mortgage business, or

(ii)

has contacts with consumers in the course of consumer buy-to-let mortgage business,

(b)

any individual working for a relevant person (see paragraph (1A)) who has contacts with consumers in the course of consumer buy-to-let mortgage business, or

(c)

any individual directly managing or supervising any individual falling within paragraph (a) or (b);”.

(3) After paragraph (1) insert—

“(1A) A “relevant person” is a person who, acting on behalf of and under the full and unconditional responsibility of only one credit intermediary, carries on one or more of the activities referred to in article 5(2) to (4).”.