Section 425A (consumers: regulated activities etc carried on by authorised persons)
91.—(1) Section 425A(1) (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)(2)—
(a)omit the definition of “credit institution”(3);
(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)”.
Section 425A was inserted by paragraph 32 of Schedule 2 to the Financial Services Act 2010.
Subsection (7) was amended by S.I. 2013/3115.
The definition of “credit institution” was amended by S.I. 2013/3115.