(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.