(1) The Consumer Credit Act 1995 is amended -
(a) in section 116, by substituting, in subsection (1), "Subject to section 116A (inserted by the European Union (Consumer Mortgage Credit Agreements) Regulations 2016) a person shall not engage" for "A person shall not engage", and
(b) by inserting, after section 116, the following:
"116A. Non-application of section 116 and deemed application of certain provisions
(1) Section 116 shall not apply to a person required to hold a mortgage credit intermediary's authorisation under Regulation 30 of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (in subsection (2) referred to as a 'relevant authorisation').
(2) Notwithstanding subsection (1), a person who is the holder for the time being of a relevant authorisation shall, for the purposes, and the purposes only, of sections 117 to 119, be deemed to be the holder of a mortgage intermediaries authorisation.".
(2) The Consumer Credit Act 1995 is further amended by insertin
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