Article 3

The Financial Services and Markets Act 2000

1.

(1) The Act is amended as follows.

(2) In section 39 (exemption of appointed representatives) [Section 39 was amended by section 10 of, and paragraph 5 of Schedule 18 to, the Financial Services Act 2012 (c. 21) and by S.I. 2007/126 and 2013/3115.] -

(a) after subsection (1) insert -

"(1ZA) But a person is not exempt as a result of subsection (1) if subsection (1A) or (1BA) applies to the person.";

(b) in subsection (1A) for "But a person is not exempt as a result of subsection (1)" substitute "This subsection applies to a person"; and

(c) after subsection (1B) insert -

"(1BA) This subsection applies to a person ("A") -

(a) if A’s principal is a mortgage intermediary, and

(b) so far as the business for which A’s principal has accepted responsibility is of a kind -