The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025
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Change 1
6A Transitional provision: person with Part 4A permission to carry on an activity in relation to article 60B
(1) Subject to paragraph (3), where a person has a Part 4A permission to carry on an activity specified by article 60B (regulated credit agreements) of the Regulated Activities Order immediately before the regulatory commencement date (“the permission”), then on or after that date the permission is to be treated as permission to carry on an activity of a kind specified by that article as it has effect following the amendments made by this Order. (2) Subject to paragraph (3), where a person has a Part 4A permission to carry on an activity specified by article 64 (agreeing to carry on specified kinds of activity) of the Regulated Activities Order, so far as it relates to the activities specified by article 60B of that Order immediately before the regulatory commencement date (“the permission”), then on or after that date the permission is to be treated as permission to carry on an activity of a kind specified by article 64 so far as it relates to the activities specified by article 60B as it has effect following the amendments made by this Order. (3) A Part 4A permission that is treated as having been varied in accordance with paragraph (1) or (2) remains subject to any limitation or requirement imposed in relation to that permission which was in force immediately before the regulatory commencement date. (4) Paragraphs (1) to (3) do not affect the ability of the FCA to— (a) vary or cancel a Part 4A permission under the Act or; (b) impose, vary or cancel a requirement in relation to a Part 4A permission under the Act.
6A Transitional provision: person with Part 4A permission to carry on an activity in relation to article 60B
(1) Subject to paragraph (3), where a person has a Part 4A permission to carry on an activity specified by article 60B (regulated credit agreements) of the Regulated Activities Order immediately before the regulatory commencement date (“the permission”), then on or after that date the permission is to be treated as permission to carry on an activity of a kind specified by that article as it has effect following the amendments made by this Order. (2) Subject to paragraph (3), where a person has a Part 4A permission to carry on an activity specified by article 64 (agreeing to carry on specified kinds of activity) of the Regulated Activities Order, so far as it relates to the activities specified by article 60B of that Order immediately before the regulatory commencement date (“the permission”), then on or after that date the permission is to be treated as permission to carry on an activity of a kind specified by article 64 so far as it relates to the activities specified by article 60B as it has effect following the amendments made by this Order. (3) A Part 4A permission that is treated as having been varied in accordance with paragraph (1) or (2) remains subject to any limitation or requirement imposed in relation to that permission which was in force immediately before the regulatory commencement date. (4) Paragraphs (1) to (3) do not affect the ability of the FCA to— (a) vary or cancel a Part 4A permission under the Act or; (b) impose, vary or cancel a requirement in relation to a Part 4A permission under the Act.
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