Part 2 Property, Rights and Liabilities of Office of Fair Trading
Financial Services Act 2012 (2012 c 21) | Legislation

Part 2 Property, Rights and Liabilities of Office of Fair Trading

Interpretation

6

In this Part of this Schedule “the OFT†means the Office of Fair Trading.

Transfer schemes

7

(1)     This paragraph applies if after the passing of this Act the Treasury make an order under section 22 of FSMA 2000 which has the effect that an activity—

(a)     ceases to be an activity in respect of which a licence under section 21 of the Consumer Credit Act 1974 is required or would be required but for the exemption conferred by subsection (2), (3) or (4) of that section or paragraph 15(3) of Schedule 3 to FSMA 2000, and

(b)     becomes a regulated activity for the purposes of FSMA 2000.

(2)     The OFT must make one or more schemes under this paragraph for the transfer of property, rights and liabilities of the OFT

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