TC TP 9 Transitional Provisions relating to MCD credit agreement activities

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(2)

(3)

(4)

(5)

(6)

Material to which the transitional provision applies

Transitional provision

Transitional provision: dates in force

Handbook provisions: coming into force

9.1

2.1.5B

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A firm that before 20 March 2014 was carrying on activities that with effect from 21 March 2016 would amount to 1acting as an MCD credit intermediary or an MCD creditor may comply with the TC rules as they were in force at 20 March 2016.

[Note: article 43(3) of the MCD]

From 21 March 2016 to 21 March 2017

21 March 2016

9.2

2.1.5C

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A firm acting as an MCD creditor or an MCD credit intermediary may, until 21 March 2019, assess the knowledge and competency of the relevant employee solely on the basis of their professional experience.

[Note: annex III (3) of the MCD]

From 21 March 2016 to 21 March 2019

21 March 2016