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STATUTORY INSTRUMENTS
2007 No. 383
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Ombudsman Scheme) (Consumer Credit Jurisdiction) Order 2007
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Made |
7th February 2007 | |
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Laid before Parliament |
15th February 2007 | |
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Coming into force in accordance with article 1 |
The Secretary of State makes the following Order, with the consent of the Treasury, in exercise of the powers conferred by section 226A(2)(e) of the Financial Services and Markets Act 2000[1].
Citation and commencement
1.
This Order may be cited as the Financial Services and Markets Act 2000 (Ombudsman Scheme) (Consumer Credit Jurisdiction) Order 2007 and shall come into force—
(a) for the purposes of article 2(a) to (f) and (i) on 8th March 2007; and
(b) for all other purposes on the day sections 24 and 25 of the Consumer Credit Act 2006[2] come fully into force.
Types of Business
2.
The Secretary of State specifies the following types of business for the purposes of section 226A(2)(e) of the Financial Services and Markets Act 2000—
(a) a consumer credit business;
(b) a consumer hire business;
(c) a business so far as it comprises or relates to credit brokerage;
(d) a business so far as it comprises or relates to debt-adjusting;
(e) a business so far as it comprises or relates to debt-counselling;
(f) a business so far as it comprises or relates to debt-collecting;
(g) a business so far as it comprises or relates to debt administration;
(h) a business so far as it comprises or relates to the provision of credit information services;
(i) a business so far as it comprises or relates to the operation of a credit reference agency.
Ian McCartney
Minister for Trade, Investment and Foreign Affairs Department of Trade and Industry
24th January 2007
We consent
Claire Ward
Dave Watts
Two of the Lords Commissioners of Her Majesty's Treasury
7th February 2007
EXPLANATORY NOTE
(This note is not part of the Order)
Section 226A of the Financial Services and Markets Act 2000 was inserted by the Consumer Credit Act 2006. It provides that a complaint, relating to an act or omission of a licensee under a standard licence or a person authorised to carry on an activity by virtue of section 34A of the Consumer Credit Act 1974, qualifies to be dealt with under the financial ombudsman scheme if certain conditions are satisfied. One of the conditions is that at the time the act or omission occurs it has to have occurred in the course of a business of a type specified in an order made by the Secretary of State. This Order specifies the types of business for the purposes of section 226A(2)(e).
A Regulatory Impact Assessment has not been prepared in respect of this Order. Any impact was considered as part of the Regulatory Impact Assessment for the Consumer Credit Bill, which was published in November 2004.
Notes:
[1]
2000 c.8. Section 226A was inserted by section 59 of the Consumer Credit Act 2006 (c.14).back
[2]
2006 c.14.back
ISBN
978 0 11 075800 8
| © Crown copyright 2007 |
Prepared
21 February 2007
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URL: http://www.bailii.org/uk/legis/num_reg/2007/20070383.html
