F1PART 20BIllegal Money Lending
333SFinancial assistance for action against illegal money lending
1
The Treasury may make grants or loans, or give any other form of financial assistance, to any person for the purpose of taking action against illegal money lending.
2
Taking action against illegal money lending includes—
a
investigating illegal money lending and offences connected with illegal money lending;
b
prosecuting, or taking other enforcement action in respect of, illegal money lending and offences connected with illegal money lending;
c
providing education, information and advice about illegal money lending, and providing support to victims of illegal money lending;
d
undertaking or commissioning research into the effectiveness of activities of the kind described in paragraphs (a) to (c);
e
providing advice, assistance and support (including financial support) to, and oversight of, persons engaged in activities of the kind described in paragraphs (a) to (c).
3
A grant, loan or other form of financial assistance under subsection (1) may be made or given on such terms as the Treasury consider appropriate.
4
“Illegal money lending” means carrying on a regulated activity within article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (regulated credit agreements) in circumstances which constitute an authorisation offence.
Pt. 20B inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 29(2), 41(3); S.I. 2016/627, reg. 2(1)(w)