(1) Section 26A of the Financial Services and Markets Act 2000 (agreements relating to credit) is amended as follows.

(2) In subsection (4) -

(a) the words from “has” to the end become paragraph (a);

(b) after that paragraph insert -

“(b) is an appointed representative in relation to that activity,

(c) is an exempt person in relation to that activity, or

(d) is a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.”

(3) In subsection (5) -

(a) the words from “the agreement” (in the third place they occur) to the end become paragraph (a) (and the existing paragraphs (a) and (b) become sub-paragraphs (i) and (ii) of that paragraph);

(b) after that paragraph insert -

“(b) that person is an appointed representative in relation to that activity,

(c) that person is an exempt person in relation to that activity, or