1. This explanatory memorandum has been prepared by HM Treasury and is laid before Parliament by Command of Her Majesty. This memorandum contains information for the Joint Committee on Statutory Instruments.
2. Purpose of the instrument
2.1 These instruments will affect the transfer of consumer credit regulation from the Office of Fair Trading to the Financial Conduct Authority.
3. Matters of special interest to the Joint Committee on Statutory Instruments
3.1 None.
4. Legislative Context
4.1 The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (“the RAO Order”) will be made under sections 22 and 428 of, and Schedule 2 to, the Financial Services and Markets Act 2000. It will also be made (in connection with article 12 of the Order) under section 2(2) of the European Communities Act 1972. The Financial Services Act 2012 (Consumer Credit) Order 2013 (“the Consumer Credit Order”) will be made under sections 107 and 115 of the Finan
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