1 Citation and commencement

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 come fully into force.

NOTES
Initial Commencement
Specified date

Specified date: 8 March 2007: see above.

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2 Types of Business

2Types of Business

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.

NOTES
Initial Commencement
Specified date

Paras (a)–(f), (i): Specified date: 8 March 2007: see art 1(a).

To be appointed

Paras (g), (h): To be appointed: these paras come into force on the day on which the Consumer Credit Act 2006, ss 24, 25 come fully into force: see art 1(b).

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Signature

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

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.

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