Section 28 of the Central Bank Act 1997 is amended -

(a) by substituting the following for the definition of "authorisation" -

"'authorisation' means an authorisation of a person to carry on a regulated business and, if an authorisation is amended in accordance with section 34, means the authorisation as amended;",

(b) by inserting the following definitions -

"'consumer' means -

(a) an individual acting otherwise than in the course of business, or

(b) a micro enterprise within the meaning given by Commission Recommendation 2003/361/EC of 6 May 2003 [OJ No. L124, 20.5.2003, p.36 ] concerning the definition of micro, small and medium sized enterprises;

'debt management firm' means a person who for remuneration provides debt management services to one or more consumers, other than an excepted person;

'debt management services' means -

(a) giving advice about the discharge of debts (in whole or in part), including advice about budgeting in connection with the discharge of debts,

(b) negotiating with a person's creditors for the discharge of the person's debts (in whole or in part), or

(c) any similar activity associated with the discharge of debts;

'excepted person' means -

(a) any charitable organisation within the meaning of section 2(1) of the Charities Act 2009,