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91.—(1) Section 425A M1 (consumers: regulated activities etc carried on by authorised persons) is amended as follows.
(2) In subsection (3)(b), for “credit institutions” substitute “ qualifying credit institutions ”.
(3) In subsection (7) M2—
(a)omit the definition of “credit institution”M3;
(b)in the definition of “relevant ancillary service”, for “Section B of Annex I to the markets in financial instruments directive” substitute “ Part 3A of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) ”.
Commencement Information
I1Reg. 91 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M1Section 425A was inserted by paragraph 32 of Schedule 2 to the Financial Services Act 2010.
M2Subsection (7) was amended by S.I. 2013/3115.
M3The definition of “credit institution” was amended by S.I. 2013/3115.