(This note does not form part of the Order)
This Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ("the principal Order") so as to specify the activities of arranging regulated mortgage contracts and advising on regulated mortgage contracts as regulated activities for the purposes of the Financial Services and Markets Act 2000 ("FSMA"). It also amends instruments made under FSMAin order to apply the regulatory regime established under that Act to persons who carry on these newly specified regulated activities, and makes necessary consequential amendments to the Consumer Credit Act 1974.
Article 3 makes a consequential amendment to the definition of "overseas person" in the principal Order which reflects the new provision inserted by article 20.
Article 4 inserts a new article into the principal Order which specifies the new regulated activity of arranging regulated mortgage contracts ("mortgage arranging"). The activity consists of arranging f
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