The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

PART 6 Minor and consequential amendments

Consumer Credit Act 1974

194.—(1) In consequence of the amendments made by regulation 89 and other provisions of these Regulations, section 8 of the Consumer Credit Act 1974(1) (consumer credit agreements) is amended as follows.

(2) In subsection (3)(b)(2), for the words after “an agreement” substitute “the purpose of which is the acquisition or retention, by an individual acting for purposes outside those of any trade, business or profession carried on by the individual, of property rights in land or in an existing or projected building”.

(3) After subsection (3) insert—

“(3A) A reference in paragraph (3)(b) to any land or building—

(a) in relation to an agreement entered into before exit day, is a reference to any land or building in the United Kingdom or within the territory of an EEA State;

(b) in relation to an agreement entered into on or after exit day, is a reference to any land or building in the United Kingdom.”.

Electronic Money Regulations 2011

195.  In consequence of the amendment made by regulation 144, in Schedule 2A(3) to the Electronic Money Regulations 2011(4), in paragraph 1 omit sub-paragraph (13).

Payment Services Regulations 2017

196.  In consequence of the amendment made by regulation 143, in Schedule 5 to the Payment Services Regulations 2017(5), in paragraph 1 omit sub-paragraph (13).

(1)

1974 c.39.

(2)

Subsection (3) was substituted by S.I. 2015/910 and was amended by S.I. 2016/392.

(3)

Schedule 2A was inserted by S.I. 2014/366.

(4)

S.I. 2011/99.

(5)

S.I. 2017/752.