Powers exercised
A. The Financial Conduct Authority makes this instrument in the exercise of the following powers and related provisions in the Financial Services and Markets Act 2000 (‘the Act’):
(1) section 137A (The FCA’s general rules);
(2) section 137T (General supplementary powers); and
(3) section 139A (Power of the FCA to give guidance).
B. The rule-making powers listed above are specified for the purpose of section 138G(2) (Rulemaking instruments) of the Act.
Commencement
C. This instrument comes into force on 15 December 2016.
Amendments to the Handbook
D. The Glossary of definitions is amended in accordance with Annex A to this instrument.
E. The Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) is amended in accordance with Annex B to this instrument.
Citation
F. This instrument may be cited as the Mortgage and Home Purchase Plan Payment Shortfalls (Conduct of Business) Instrument 2016.
By order of the Board
8 December 2016