CONC App 1.3 Exemption of certain credit agreements secured on land
Interpretation
- (1)
This section specifies:
- (a)
the persons or classes of persons to whom the exemption in article 60E(2) of the Regulated Activities Order applies; and
- (b)
the agreements or classes of agreement to which the exemption in article 60E(2) of the Regulated Activities Order applies.
- (a)
- (1A)
2Paragraphs (2) to (5) do not apply where the applicable agreement is an MCD article 3(1)(b) credit agreement.
- (2)
Where the lender is a body specified in CONC App 1.3.2 R or an authorised person with permission to accept deposits, article 60E(2) of the Regulated Activities Order applies only to
- (a)
a borrower-lender-supplier agreement falling within (a) or (c) of the definition of relevant credit agreement relating to the purchase of land;
- (b)
a borrower-lender agreement secured by any legal or equitable mortgage1 on land to finance
- (i)
the purchase of land; or
- (ii)
the provision of dwellings or business premises on any land; or
- (iii)
subject to (3) below, the alteration, enlarging, repair or improvement of a dwelling or business premises on any land;
- (i)
- (c)
a borrower-lender agreement secured by any legal or equitable mortgage1 on land to refinance any existing indebtedness of the borrower, whether to the lender or another person, under any agreement by which the borrower was provided with credit for any of the purposes specified in (b)(i) to (iii) above.
- (a)
- (3)
(2)(b)(iii) above applies only
- (a)
where the lender is the lender under
- (i)
an agreement (whenever made) by which the borrower is provided with credit for any of the purposes specified in (2)(b)(i) and (2)(b)(ii) ; or
- (ii)
an agreement (whenever made) refinancing an agreement under which the borrower is provided with credit for any of the said purposes,
being, in either case, an agreement relating to the land referred to in (2)(b)(iii) and secured by a legal or equitable mortgage1 on that land; or
- (i)
- (b)
where a borrower-lender agreement to finance the alteration, enlarging, repair or improvement of a dwelling, secured by a legal or equitable mortgage1 on that dwelling, is made as a result of any such services as are described in section 4(3)(e) of the Housing Associations Act 1985 which are certified as having been provided by
- (i)
- (ii)
a housing association within the meaning of section 1 of the Housing Associations Act 1985 or article 3 of the Housing (Northern Ireland) Order 1992;
- (iii)
a body established by such a housing association for the purpose of providing such services as are described in the said section 4(3)(e) of the Housing Associations Act 1985;
- (iv)
a charity;
- (v)
the National Home Improvement Council;
- (vi)
the Northern Ireland Housing Executive; or
- (vii)
a body, or a body of any description, that has been approved by the Secretary of State under section 169(4)(c) of the Local Government and Housing Act 1989 or the Department of the Environment for Northern Ireland under article 103(4)(c) of the Housing (Northern Ireland) Order 1992.
- (a)
- (4)
Where the lender is a body specified in CONC App 1.3.3 R, the exemption in article 60E(2) of the Regulated Activities Order applies only to an agreement of a description specified in that rule in relation to that body and made pursuant to an enactment or for a purpose so specified.
- (5)
Where the lender is a body specified in CONC App 1.3.4 R, the exemption in article 60E (2) of the Regulated Activities Order applies only to an agreement of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being an agreement advancing money on the security of a dwelling-house.
Bodies whose agreements of the specified description are exempt agreements |
INSURANCE COMPANIES |
Abbey Life Assurance Company Limited |
Abbey Life Pension and Annuities Limited |
Albany Life Assurance Company Limited |
Allchurches Life Assurance Limited |
Alliance Assurance Company Limited |
Allied Dunbar Assurance PLC |
Ambassador Life Assurance Company Limited |
American Life Insurance Company |
Ansvar Insurance Company Limited |
Atlas Assurance Company Limited |
Australian Mutual Provident Society |
Avon Insurance PLC |
Black Horse Life Assurance Company Limited |
Bradford Insurance Company Limited |
Britannic Assurance Public Limited Company |
The British & European Reinsurance Company Limited |
British Equitable Assurance Company Limited |
The British Life Office Limited |
The British Oak Insurance Company Limited |
British Reserve Insurance Company Limited |
Caledeonian Insurance Company |
The Cambrian Insurance Company Limited |
The Canada Life Assurance Company |
Cannon Assurance Limited |
Car and General Insurance Corporation Limited |
City of Westminster Assurance Company Limited |
City of Westminster Assurance Society Limited |
Clerical, Medical and General Life Assurance Society |
Colonial Life (UK) Limited |
The Colonial Mutual Life Assurance Society Limited |
Commercial Union Assurance Company plc |
Commercial Union Pensions Management Limited |
Commercial Union Life Assurance Company Limited |
Confederation Life Insurance Company |
The Contingency Insurance Company Limited |
Co-operative Insurance Society Limited |
Cornhill Insurance Public Limited Company |
Criterion Insurance Company Limited |
Crown Life Assurance Company Limited |
Crown Life Insurance Company Limited |
Crown Life Pensions Limited |
Crusader Insurance PLC |
The Dominion Insurance Company Limited |
Eagle Star Insurance Company Limited |
Ecclesiastical Insurance Office plc |
Economic Insurance Company Limited |
English & American Insurance Company Limited |
The Equitable Life Assurance Society |
Equico International Limited |
Equity & Law Life Assurance Society plc |
Essex and Suffolk Insurance Company Limited |
Excess Insurance Company Limited |
Federation Mutual Insurance Limited |
Fine Art and General Insurance Company Limited |
Friends' Provident Life Office |
FS Assurance Limited |
General Accident Fire and Life Assurance Corporation Public Limited Company |
General Accident Life Assurance Limited |
General Accident Linked Life Assurance Limited |
General Portfolio Life Insurance Public Limited Company |
Gisborne Life Assurance Company Limited |
Gresham Life Assurance Society Limited |
Guardian Assurance plc |
Guardian Royal Exchange Assurance plc |
Hill Samuel Life Assurance Limited |
The Ideal Insurance Company Limited |
The Imperial Life Assurance Company of Canada |
Irish Life Assurance plc |
The Iron Trades Employers Insurance Association Limited |
Legal and General Assurance Society Limited |
The Licenses and General Insurance Company Limited |
The Life Association of Scotland Limited |
London Aberdeen & Northern Mutual Assurance Society Limited |
London and Manchester Assurance Company Limited |
London and Manchester (Pensions) Limited |
London & Scottish Assurance Corporation Limited |
The London Assurance |
The London Life Association Limited |
The Manufacturers Life Insurance Company |
Marine and General Mutual Life Assurance Society |
Maritime Insurance Company Limited |
Medical Sickness Annuity & Life Assurance Society Limited |
The Mercantile and General Reinsurance Company plc |
Midland Assurance Limited |
The Motor Union Insurance Company Limited |
Minister Insurance Company Limited |
Municipal Life Assurance Limited |
Municipal Mutual Insurance Limited |
NALGO Insurance Association Limited |
National Employers' Life Assurance Company Limited |
National Employers' Mutual General Insurance Association Limited |
The National Farmers Union Mutual Insurance Society Limited |
National House-Building Council |
The National Insurance and Guarantee Corporation PLC |
The National Mutual Life Association of Australasia Limited |
National Mutual Life Assurance Society |
National Provident Institution |
National Vulcan Engineering Insurance Group Limited |
N.E.L. Pensions Limited |
The New Zealand Insurance plc |
North British & Mercantile Insurance Company Limited |
The Northern Assurance Company Limited |
Norwich Union Asset Management Limited |
Norwich Union Fire Insurance Society Limited |
Norwich Union Insurance Group (Pensions Management) Limited |
Norwich Union Life Insurance Society |
NRG London Reinsurance Company Limited |
Oaklife Assurance Limited |
The Ocean Accident & Guarantee Corporation Limited |
The Orion Insurance Company P.L.C. |
Pearl Assurance Public Limited Company |
Pensions Management (SWF) Limited |
Permanent Insurance Company Limited |
Phoenix Assurance Public Limited Company |
Pioneer Mutual Insurance Company Limited |
Prolific Life and Pensions Limited |
Property Growth Pensions & Annuities Limited |
Provident Life Association Limited |
Provident Mutual Life Assurance Association |
Provincial Insurance Public Limited Company |
The Prudential Assurance Company Limited |
Railway Passengers Assurance Company |
Refuge Assurance, public Limited company |
Regency Life Assurance Company Limited |
The Reliance Fire and Accident Insurance Corporation Limited |
The Reliance Marine Insurance Company Limited |
Reliance Mutual Insurance Society Limited |
Royal Exchange Assurance |
Royal Insurance Public Limited Company |
Royal Insurance (Int.) Limited |
Royal Insurance (U.K.) Limited |
Royal Life Insurance Limited |
Royal Life (Unit Linked Assurances) Limited |
Royal Life (Unit Linked Pension Funds) Limited |
The Royal London Mutual Insurance Society Limited |
The Royal National Pension Fund for Nurses |
Royal Reinsurance Company Limited |
Schroder Life Assurance Limited |
Scottish Amicable Life Assurance Society |
Scottish Equitable Life Assurance Society |
Scottish General Insurance Company Limited |
Scottish Insurance Corporation Limited |
The Scottish Life Assurance Company |
The Scottish Mutual Assurance Society |
The Scottish Provident Institution |
Scottish Union and National Insurance Company |
Scottish Widows' Fund and Life Assurance Society |
Sentinel Life plc |
Skandia Life Assurance Company Limited |
Standard Life Assurance Company |
Standard Life Pension Funds Limited |
The State Assurance Company Limited |
Suffolk Life Annuities Limited |
Sun Alliance and London Assurance Company Limited |
Sun Insurance Office Limited |
Sun Life Assurance Company of Canada |
Sun Life Assurance Society plc |
Target Life Assurance Company Limited |
Teachers Assurance Company Limited |
Trident Investors Life Assurance Company Limited |
Trident Life Assurance Company Limited |
Trinity Insurance Company Limited |
UK Life Assurance Company Limited |
United British Insurance Company Limited |
United Friendly Insurance plc |
United Kingdom Temperance and General Provident Institution |
United Standard Insurance Company Limited |
The University Life Assurance Society |
The Victory Reinsurance Company Limited |
Wesleyan and General Assurance Society |
The Western Australian Insurance Company Limited |
The White Cross Insurance Company Limited |
World-Wide Reassurance Company Limited |
The Yorkshire Insurance Company Limited |
Zurich Life Assurance Company Limited |
FRIENDLY SOCIETIES |
The Ancient Order of Foresters Friendly Society |
Anglo-Saxons Friendly Society |
Blackburn Philanthropic Mutual Assurance Society |
British Benefit Society |
British Order of Ancient Free Gardeners' Friendly Society |
Brunel Assurance Society |
Cirencester Benefit Society |
Civil Servants' Annuities Assurance Society |
Colmore Friendly Society |
Coventry Assurance Society |
Dentists' Provident Society |
Devon and Exeter Women's Equitable Benefit Society |
The Exeter Equitable Friendly Society |
Grand United Order of Oddfellows Friendly Society |
The Hampshire and General Friendly Society |
Harvest Friendly Society |
Hearts of Oak Benefit Society |
The Ideal Benefit Society |
Independent Order of Oddfellows Kingston Unity Friendly Society |
The Independent Order of Odd Fellows Manchester Unity Friendly Society |
The Independent Order of Rechabites, Salford Unity, Friendly Society |
Leeds District of the Ancient Order of Foresters Investment Association |
Leek Assurance Collecting Society |
The Leicester District Foresters' Investment Society |
Liverpool Victoria Friendly Society |
The Manchester and Districts of the Ancient Order of Foresters Investment Association |
National Deposit Friendly Society |
National Equalized Druids Friendly Society |
National United Order of Free Gardeners Friendly Society |
New Tab Friendly Society |
Northumberland and Durham Miners' Permanent Relief Fund Friendly Society |
Nottingham Oddfellows Assurance Friendly Society |
The Order of Druids Friendly Society |
The Order of the Sons of Temperance Friendly Society |
Original Holloway Society |
Pioneer Benefit Society |
Preston Catholic Collecting Society |
Preston Shelley Assurance Collecting Society |
Provident Reliance Friendly Society |
Rational and County Assurance Society |
Royal Liver Friendly Society |
Scottish Friendly Assurance Society |
The Scottish Legal Life Assurance Society |
The Shepherds Friendly Society |
Sons of Scotland Temperance Friendly Society |
Stepney District Distressed Members' Pension Benevolent Fund |
The Sussex Widow and Orphans Society |
Teachers Provident Society |
Time Assurance Society |
Tunbridge Wells Equitable Friendly Society |
Tunstall and District Assurance Collecting Society |
United Ancient Order of Druids Friendly Society |
United Kingdom Civil Service Benefit Society |
United Patriots' National Benefit Society |
West Surrey General Benefit Society |
Widow and Orphan Fund of the Woolwich District of the Independent Order of Odd Fellows, Manchester Unity Friendly Society |
Widow and Orphans' Fund, Stepney District of the Independent Order of Odd Fellows, Manchester Unity Friendly Society |
Widow, Widowers and Orphans' Fund of the Godalming District of the Independent Order of Oddfellows, Manchester Unity, Friendly Society |
Wiltshire Holloway Benefit Society |
CHARITIES |
The Central Board of Finance of the Church of England |
Church Commissioners |
The Church of England Pensions Board |
The Church of Scotland |
The Church of Scotland General Trustees |
Church of Scotland Trust |
The Representative Body of the Church in Wales |
Timber Trades Benevolent Society |
The Winchester Diocesan Board of Finance |
York Diocesan Board of Finance Limited |
AGRICULTURAL CORPORATIONS |
The Agricultural Mortgage Corporation Public Limited Company |
The Scottish Agricultural Securities Corporation Public Limited Company |
OTHER BODIES |
General Practice Finance Corporation Limited |
Bodies Corporate |
Description of Agreement and Enactments |
|
LAND IMPROVEMENT COMPANIES |
||
The Lands Improvement Company: |
Relevant credit agreements relating to the purchase of land, being agreements made pursuant to |
|
(a) |
the Lands Improvement Company's Acts 1853 to 1969; or |
|
(b) |
the Improvement of Land Acts 1864 and 1899. |
|
BODIES CORPORATE NAMED OR SPECIFICALLY REFERRED TO IN A PUBLIC GENERAL ACT - UNITED KINGDOM |
||
The Greater London Authority |
Relevant credit agreements relating to the purchase of land, being agreements made under the Authority's power to give financial assistance under section 30 of the Greater London Authority Act 1999. |
|
Homes and Communities Agency |
Relevant credit agreements relating to the purchase of land, being agreements made under the Agency's powers to give financial assistance under section 19 of the Housing and Regeneration Act 2008. |
|
The Eastern Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
The Electricity Council: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Council and employees or prospective employees of the Council pursuant to section 2(5) of the Electricity Act 1947, as applied in relation to the Council by section 3(6) of the Electricity Act 1957. |
|
The London Docklands Development Corporation: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made pursuant to section 136 of the Local Government, Planning and Land Act 1980. |
|
The London Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
The North Eastern Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
Sea Fish Industry Authority: |
Relevant credit agreements relating to the purchase of land, being agreements made pursuant to section 3(1)(e) and (f) of the Fisheries Act 1981. |
|
The South Eastern Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
The South Western Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
The Southern Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
The Yorkshire Electricity Board: |
Agreements of a description falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c), being agreements made between the Board and employees or prospective employees of the Board pursuant to section 2(5) of the Electricity Act 1947. |
|
NORTHERN IRELAND |
||
Eastern Health and Social Services Board: |
Relevant credit agreements relating to the purchase of land, being agreements made pursuant to article 59 of and Schedule 9 to the Health and Personal Social Services (Northern Ireland) Order 1972. |
|
Northern Health and Social Services Board: |
Relevant credit agreements relating to the purchase of land, being agreements made pursuant to article 59 of and Schedule 9 to the Health and Personal Social Services (Northern Ireland) Order 1972 |
|
Southern Health and Social Services Board: |
Relevant credit agreements relating to the purchase of land, being agreements made pursuant to article 59 of and Schedule 9 to the Health and Personal Social Services (Northern Ireland) Order 1972. |
|
Welsh Ministers |
Relevant credit agreements relating to the purchase of land, being agreements falling within CONC App 1.3.1R (2)(a) to CONC App 1.3.1R (2)(c) which are made pursuant to section 36 of the New Towns Act 1981 and which related to property of the Commission for the New Towns transferred to them under a scheme made under section 51(1) of the Housing and Regeneration Act 2008. |
|
Western Health and Social Services Board: |
Relevant credit agreements relating to the purchase of land being agreements made pursuant to article 59 of and Schedule 9 to the Health and Personal Social Services (Northern Ireland) Order 1972. |
|
BODIES CORPORATE NAMED OR SPECIFICALLY REFERRED TO IN AN ORDER MADE UNDER SECTION 156(4), 444(1) OR 447(2)(a) OF THE HOUSING ACT 1985 |
Abbey Life Executive Mortgages Limited |
Abbey Life Funding Limited |
Abbey Life Home Loans Limited |
Abbey Life Home Services Limited |
Abbey Life Mortgage Finance Limited |
Abbey Life Mortgage Loans Limited |
Abbey Life Mortgage Securities Limited |
Abbey Life Residential Loans Limited |
Albion Home Loans Limited |
Alliance & Leicester Mortgage Loans Limited |
Alliance & Leicester Mortgage Loans (No. 2) Limited |
Alliance & Leicester Mortgage Loans (No. 3) Limited |
Alliance & Leicester Mortgage Loans (No. 4) Limited |
Bradford & Bingley Homeloans Limited |
Bradford & Bingley Homeloans Management Limited |
Bradford & Bingley Loans Limited |
Bradford & Bingley Management Limited |
Bradford & Bingley Mortgages Limited |
Bradford & Bingley Mortgage Management Limited |
Bradford & Bingley Secured Loans Limited |
Bradford & Bingley Secured Loans Management Limited |
Britannia Mortgage Company Number One Limited |
Britannia Mortgage Company Number Two Limited |
Chelsea Mortgage Services Limited |
CIS Home Loans Limited |
CIS Mortgage Finance Limited |
CIS Mortgage Maker Limited |
CIS Residential Mortgages Limited |
CL Mortgages Limited |
Darlington Mortgage Services Limited |
Derbyshire Home Loans Limited |
General Portfolio Finance Limited |
Gracechurch Mortgage Finance (No. 2) PLC |
Gracechurch Mortgage Finance (No. 3) PLC |
Halifax Loans Limited |
Halifax Loans (No. 2) Limited |
Halifax Loans (No. 3) Limited |
Halifax Loans (No. 4) Limited |
HMC First Home National PLC |
Home Loans Direct Limited |
Home Loans Direct Funding PLC |
Household Mortgage Corporation PLC |
Ipswich Mortgage Services Limited |
LBS Mortgages Limited |
Leamington Mortgage Corporation Limited |
Leeds & Holbeck Mortgage Corporation Limited |
Leeds & Holbeck Mortgage Funding Limited |
Legal and General Mortgage Services Limited |
Lombard Home Loans Limited |
London and Manchester (Mortgages) (No. 1) Limited |
London and Manchester (Mortgages) (No. 2) Limited |
London and Manchester (Mortgages) (No. 3) Limited |
London and Manchester (Mortgages) (No. 4) Limited |
London and Manchester (Mortgages) (No. 5) Limited |
Market Harborough Mortgages Limited |
The Mortgage Corporation Limited |
The National Home Loans Corporation plc |
National Mutual Home Loans plc |
National Westminster Home Loans Limited |
Newbury Mortgage Services Limited |
Northern Rock Mortgage Services Limited |
North Yorkshire Mortgages Limited |
Norwich and Peterborough (LBS) Limited |
Norwich Union Mortgage Finance Limited |
Royal London Homebuy Limited |
Saffron Walden Mortgage Services Limited |
Secured Residential Funding PLC |
Stroud and Swindon Mortgage Company Limited |
Stroud and Swindon Mortgage Company (No. 2) Limited |
Sun Life of Canada Home Loans Limited |
Wesleyan Home Loans Limited |
West Bromwich Mortgage Company Limited |