PART 2 U.K.Amendments to the Act

CHAPTER 17 U.K.Part 29 of the Act: interpretation of the Act

Section 425A (consumers: regulated activities etc carried on by authorised persons) U.K.

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

I1 Reg. 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

M1 Section 425A was inserted by paragraph 32 of Schedule 2 to the Financial Services Act 2010.

M2 Subsection (7) was amended by S.I. 2013/3115.

M3 The definition of “credit institution” was amended by S.I. 2013/3115.