Providing qualifying creditU.K.
10.—(1) Providing qualifying credit is a controlled activity.
(2) “Qualifying credit” is a credit provided pursuant to an agreement under which—
(a)the lender is a person who carries on the regulated activity specified in article 61 of the Regulated Activities Order; and
(b)the obligation of the borrower to repay is secured (in whole or in part) on land.
(3) “Credit” includes a cash loan and any other form of financial accommodation.