After article 39C [Inserted by S.I. 2003/1476.] (other exclusions relating to claims management on behalf of an insurer etc.) insert -
"Chapter 7B Activities in Relation to Debt
(1) When carried on in relation to debts due under a credit agreement -
(a) negotiating with the lender, on behalf of the borrower, terms for the discharge of a debt,
(b) taking over, in return for payments by the borrower, that person's obligation to discharge a debt, or
(c) any similar activity concerned with the liquidation of a debt,
is a specified kind of activity.
(2) When carried on in relation to debts due under a consumer hire agreement -
(a) negotiating with the owner, on behalf of the hirer, terms for the discharge of a debt,
(b) taking over, in return for payments by the hirer, that person's obligation to discharge a debt, or
(c) any similar activity concerned with the liquidation of a debt,
is a specified kind of activity.
(1) Giving advice t
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