Moved by
Lord Ashton of Hyde
28: After Clause 23, insert the following new Clause—
“Enforceability of credit agreements made through unauthorised persons
(1) Section 27 of the Financial Services and Markets Act 2000 (agreements made through unauthorised persons) is amended as follows.
(2) After subsection (1) insert—
“(1ZA) But this section does not apply to a regulated credit agreement or a regulated consumer hire agreement unless the provider knows before the agreement is made that the third party had some involvement in the making of the agreement or matters preparatory to its making.”
(3) In subsection (1A) for “The agreement” substitute “An agreement to which this section applies”.
(4) After subsection (4) insert—
“(5) For the purposes of subsection (1ZA)—
“regulated consumer hire agreement” has the meaning given by article 60N of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
“regulated credit agreement” has the meaning given by article 60B of that Order.””