(1) The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001  [S.I. 2001/1217.] are amended as follows.

(2) After regulation 2(1)(abc) [Regulation 2 amended by S.I. 2001/2508, S.I. 2003/1475, S.I. 2003/1476, S.I. 2004/453, S.I. 2004/2737, S.I. 2006/2383, S.I. 2006/3414, S.I. 2012/1906 and S.I. 2013/1881.] (descriptions of business for which appointed representatives are exempt), insert -

"(abd) an activity of the kind specified by article 36H (operating an electronic system in relation to lending) of that Order [The reference to "the Order" is a reference to the "Regulated Activities Order" which is defined in S.I. 2001/1217 as meaning the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544). That Order was amended by S.I. 2013/1881; there are there are other amending instruments but none is relevant.];".

(3) After regulation 3(3C) [Regulation 3 amended by S.I. 2003/1475, S.I. 2006/2383 and S.I. 2013/1881; there are other amending instruments but none is relevant.] (requirements applying to contracts between authorised persons and appointed representatives), insert -

"(3CA) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative -