(1) The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 [S.I. 2001/1217, as amended by S.I. 2001/2508.] are amended as follows.

(2) In regulation 1 (citation, commencement and interpretation), in paragraph (2), after the definition of "the Regulated Activities Order" insert -

""regulated mortgage contract", and "borrower" in relation to such a contract, have the same meaning as in article 61(3) of the Regulated Activities Order.".

(3) In regulation 2 (descriptions of business for which appointed representatives are exempt), in paragraph (1) -

(a) after sub-paragraph (a) insert -

"(ab) an activity of the kind specified by article 25A of that Order (arranging regulated mortgage contracts);";

(b) at the end of sub-paragraph (c) omit "or";

(c) after sub-paragraph (c) insert -

"(ca) an activity of the kind specified by article 53A of that Order (advising on regulated mortgage contracts); or"; and