PART 1 Introduction

Citation and commencement _I1

1. —(1) These Regulations may be cited as the Financial Services (Distance Marketing) (Amendment and Savings Provisions) (EU Exit) Regulations 2019.

(2) This Part and Part 2 come into force on the day after the day on which these Regulations are made.

(3) Otherwise, these Regulations come into force on exit day.

Interpretation _I2

^M4 2. In these Regulations, “ the 2004 Regulations ” means the Financial Services (Distance Marketing) Regulations 2004 .

PART 2 European Communities Act 1972: amendment of the 2004 Regulations

Amendment of the 2004 Regulations _I3

3. In regulation 2(1) of the 2004 Regulations for the definition of “the Directive” substitute—

“ “ the Directive ” means Directive 2002/65/EC of the European Parliament and of the Council of 23 September 2002 concerning the distance marketing of consumer financial services and amending Council Directive 1990/619/EEC and Directives 1997/7/EC and 1998/27/EC ; ” .

^M5 PART 3 European Union (Withdrawal) Act 2018: amendment of the 2004 Regulations

Amendment of the 2004 Regulations _I4

4. The 2004 Regulations are amended as follows.

Amendment of regulation 2 _I5

5. In regulation 2(1) (interpretation)—

(a) ^M6 omit the definition of “the European Consumer Credit Information form” ;

(b) after the definition of “means of distance communication”, insert—

“ “ the Pre-Contract Credit Information (Overdrafts) form ” means the form set out in Schedule 3 to the Disclosure of Information Regulations; ” .

Amendment of regulation 4 _I6

6. In regulation 4 (scope)—

(a) for paragraph (1) substitute—

“ (1) Regulations 7 to 11 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—

(a) a payments supplier,

(b) a relevant EEA AIFM, or

(c) the operator, trustee or depositary of a relevant recognised scheme.

(1A) Regulations 12 and 13 do not apply in relation to any contract made between an EEA supplier contracting from an establishment in an EEA State and a consumer in the United Kingdom unless the EEA supplier is—

(a) an authorised person, or

(b) a payments supplier.

(1B) Regulation 15 does not apply in relation to any supply of financial services by an EEA supplier from an establishment in an EEA State to a consumer in the United Kingdom unless the EEA supplier is—

(a) a payments supplier,

(b) a relevant EEA AIFM, or

(c) the operator, trustee or depositary of a relevant recognised scheme

(1C) For the purposes of paragraphs (1) to (1B)—

“ payments supplier ” means an EEA supplier to whom paragraph 2 or 14 of Schedule 3 to the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 applies;

“ relevant EEA AIFM ^M7 ” means an EEA AIFM (within the meaning given in regulation 78A(1)(b) of the Alternative Investment Fund Managers Regulations 2013) to whom regulation 78B of those Regulations applies. ” .

(b) in paragraph (6), for “paragraph (5)” substitute “ paragraphs (1), (1B) and (5) ” .

Amendment of regulation 7 _I7

7. In regulation 7 (information required prior to the conclusion of the contract)—

(a) ^M8 in paragraph (1A) , omit “, 17”;

(b) in paragraph (7)(a) for “European Consumer Credit Information form” substitute “ Pre-contract Credit Information (Overdrafts) form ” .

Amendment of regulation 8 _I8

8. In regulation 8 (written and additional information)—

(a) ^M9 in paragraph (1A) , omit “, 17”;

(b) ^M10 in paragraph (1C)(a)(i) , for “European Consumer Credit Information form” substitute “ Pre-contract Credit Information (Overdrafts) form ” .

Amendment of regulation 16 _I9

9. In regulation 16 (prevention of contracting-out), for paragraph (3) substitute—

“ (3) These Regulations apply despite any contract term which applies or purports to apply the law of a country other than the United Kingdom, if the contract or supply has a close connection with the United Kingdom or any part of the United Kingdom. ” .

Amendment of Schedule 1 _I10

10. In Schedule 1 (information required prior to the conclusion of the contract)—

(a) in paragraph 2, for “consumer's State of residence” substitute “ United Kingdom ” ;

(b) omit paragraph 17;

(c) in paragraph 21, for “except to” to the end substitute “ as applicable to the contract ” .

PART 4 Savings

Savings _I11

11. —(1) Despite the amendments made to regulation 4(1) of the 2004 Regulations (by regulation 6 of these Regulations)—

(a) regulations 7 to 13 of the 2004 Regulations do not apply in relation to any contract made before [^F1 IP completion day ^F1] between an EEA supplier contracting from an establishment in an EEA state and a consumer in the United Kingdom;

(b) regulation 15 of the 2004 Regulations does not apply to any supply of financial services before [^F1 IP completion day ^F1] by an EEA supplier from an establishment in an EEA state to a consumer in the United Kingdom.

(2) In this regulation, “consumer” and “EEA supplier” have the meanings given in the 2004 Regulations (see regulation 2 of those Regulations).