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  2. Point in time
    2015-06-18

TC TP 8 Transitional provisions relating to time limits for attaining qualifications

18.1

R

An employee who is carrying on an activity specified in TC Appendix 1on 1 January 2011 will, for the purposes of TC 2.2A.1 R, be regarded as starting to carry on that activity on that date.

28.2

R

An employee who is carrying on the activities specified in TC App 1of:

(1)

arranging (bringing about) regulated mortgage contracts or home reversion plans or (for a mortgage lender or home reversion provider) an activity which would be arranging (bringing about) but for the exclusion in article 28A Regulated Activities Order (Arranging contracts to which the arranger is a party) for a non-business purpose; or

(2)

designing scripted questions for execution-only sales of regulated mortgage contracts for a non-business purpose;

as at 26 April 2014 will, for the purposes of TC 2.2A.1 R, be regarded as carrying on such activities only with effect from that date; and, in relation to such an employee, a firm need not (in relation to such activities only) comply with TC 2.1.6 R until 26 October 2016. TP 8.1 does not apply in respect of such an employee.