(1) Regulation 3 of the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 [S.I. 2001/1217. Paragraph (3CA) was inserted by S.I. 2014/206. There are other amendments, but none is relevant here.] (requirements applying to contracts between authorised persons and appointed representatives) is amended as follows.

(2) In paragraph (2)(c) for "53" substitute "53(1)".

(3) In paragraph (3CA) -

(a) in sub-paragraph (a) delete "(within the meaning of article 36H(4) of the Regulated Activities Order)";

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

"(aa) facilitates a person assuming the rights of the lender under an article 36H agreement by assignment or operation of law on behalf of other counterparties;";

(c) in sub-paragraph (b), for "sub-paragraph (a)" substitute "sub-paragraph (a) or (aa)";

(d) after sub-paragraph (b) insert -