Consumer credit high net worth and business use exemptions: drafting statements and declarations | Practical Law

Consumer credit high net worth and business use exemptions: drafting statements and declarations | Practical Law

To rely on the high net worth and business use exemptions in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO), the applicable statement and declaration must comply with the relevant rules in the Consumer Credit sourcebook (CONC) in the FCA Handbook. Among other things, this note sets out the prescribed text needed if lenders or owners wish to rely on one of these exemptions.

Consumer credit high net worth and business use exemptions: drafting statements and declarations

by Practical Law Financial Services
Maintained • United Kingdom
To rely on the high net worth and business use exemptions in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO), the applicable statement and declaration must comply with the relevant rules in the Consumer Credit sourcebook (CONC) in the FCA Handbook. Among other things, this note sets out the prescribed text needed if lenders or owners wish to rely on one of these exemptions.