The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

[F1 Advising on regulated credit agreements for the acquisition of land U.K.

53DA.— (1) Advising a person (“P”) is a specified kind of activity if—

(a) the advice is given to P in P's capacity as a recipient of credit, or potential recipient of credit, under a regulated credit agreement;

(b) P intends to use the credit to acquire or retain property rights in land or in an existing or projected building; and

(c) the advice consists of the provision of personal recommendations to P in respect of one or more transactions relating to regulated credit agreements [F2 entered into, or to be entered into, on or after 21st March 2016].

(2) In this article “regulated credit agreement” has the meaning given by article 60B(3).]

Textual Amendments

F1 Art. 53DA inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 4(9) (with Pt. 4)

F2 Words in art. 53DA(1)(c) inserted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(8) (with Pt. 5)