Citation, commencement and extent

1.—(1) This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) (No. 2) Order 2025.

(2) This Order comes into force on 3rd December 2025.

(3) This Order extends to England and Wales, Scotland and Northern Ireland.

Amendment of the Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025

2.—(1) The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025(2) is amended as follows.

(2) In article 3 (amendment of the Regulated Activities Order) in paragraph (2), in new article 36FB (activities in relation to certain regulated credit agreements)—

(a)in paragraph (1), omit the words from “, unless” to the end of the paragraph;

(b)omit paragraphs (2) and (3);

(c)in paragraph (4), omit the definition of “customer”.

(3) In article 6 (interpretation of Part 4), in the definition of “relevant activity”—

(a)in paragraph (a) omit “36A (credit broking) or”;

(b)in paragraph (b) for “activities specified by those articles”, substitute “activities specified by that article”.

(4) After article 6 insert—

Transitional provision: person with Part 4A permission to carry on an activity in relation to article 60B

6A.—(1) Subject to paragraph (3), where a person has a Part 4A permission to carry on an activity specified by article 60B(3) (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(4) (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.”.

(5) In article 10(3) (temporary permission)—

(a)in sub-paragraph (c)(i)—

(i)after “in respect of article”, omit “36A or”;

(ii)for “activities specified by those articles”, substitute “activity specified by that article”.

(b)in sub-paragraph (d)(i)—

(i)after “in respect of article”, omit “36A or”;

(ii)for “activities specified by those articles”, substitute “activity specified by that article”.

(6) In article 11 (application of the 2000 Act to persons with temporary permission)—

(a)in paragraph (4), in the words following sub-paragraph (b) for “some or all”, substitute “either or both”;

(b)in paragraph (5) for “some or all”, substitute “either or both”.