PART 3Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

Article 61A (mortgage contracts which are not regulated mortgage contracts)146

1

In article 61A249 (mortgage contracts which are not regulated mortgage contracts) paragraph (6) is amended as follows.

2

In the definition of “bridging loan”, for “Article 4(23) of the mortgages directive” substitute “article 60G(9)”.

3

In the definition of “exempt consumer buy-to-let mortgage contract”, in paragraph (a), for “of a kind to which the mortgages directive does not apply by virtue of Article 3(2) of that directive” substitute “an agreement to which section 423A(3) of the Act applies”.

4

In the definition of “exempt housing authority loan”250, in paragraph (b)—

a

for sub-paragraph (i) substitute—

i

is an agreement to which section 423A(3) of the Act applies,”;

b

in sub-paragraph (iii), for “exemptions not permitted under the mortgages directive” substitute “provision qualifying articles 60E, 60F and 60H”.