We propose an amendment to the Code to include “regulated credit contracts” in accordance with the requirements of indicative behaviour 6.1, which provide that third-party introductions are only made if the agreement is made in the best interests of the customer concerned and the agreement is tailored to that customer`s needs. 3 Different persons are exempt from the need to obtain authorization for certain regulated credit-related activities in the circumstances referred to in the act by the Department of Finance`s order pursuant to section 38 of the Act (for example. B a person is exempt from tax only if he or she is acting in a specific area or for a specific purpose). Persons exempted under the decision cannot be exempted and admitted for certain regulated activities (unless that person is a mandated person with only one provisional authorization). A company that relies on the Exemption of Part XX may only engage in insurance intermediation activities if it is in the FCA`s Register of Exempt Professional Enterprises (EPF) and appoints an insurance intermediation agent. Companies wishing to be registered should notify the SRA and provide information about their insurance intermediation agent. The EPF register can be found on the ACF website – see www.fca.org.uk. relevant credit contracts for land acquisition, which are agreements entered into as owners in the context of a regulated consumer lease; 4The exemption under Part 55 of the exemption schedule applies to securitization vehicles and other businesses that are part of a structured financing transaction and meet the conditions. It grants a person (“P”) an exemption from the general prohibition of regulated exercise or the right to practice. the lender`s rights and obligations under a regulated credit contract (and related regulated activities), where an agreement is reached for an authorized person with the authority to insure the loan or such an agreement has been terminated within the last 30 days. a customer`s separate consent to a business, after the regulated credit contract has been established, for the entity to make a single request to a payment service provider for a payment of a specified amount from the customer`s payment account on the same day as the consent or on a given day. grants or commits to credit under a regulated credit contract and is not required to grant credits; This exemption applies to a system whereby an employer makes or provides its workers with bicycle or cycling safety equipment worth $1,000 (which must allow workers to benefit from Section 244 of the Income Tax (Earnings and Pensions) Act 2003). An employer does not require authorization for regulated activities related to regulated consumer leases simply because it operates such a system.

There is also the concept of an exemption period, that is, the 30-day period after the insanity of a service contract. For an exempt period, a VPS may carry out the regulated activities concerned and remain exempt. For the purposes of this exemption, P`s activities as part of or for the purposes of a service agreement are excluded from regulated debt advisory and collection activities under a regulated credit contract.