22. Arranging transactions in connection with lending on the security of insurance policies
Past version: effective from 20/10/2015 - 19/10/2015
To view other versions open the versions tab on the right
(1) There are excluded from paragraph 16(1) and (2) arrangements made by a Money-Lender under which either —
(a) a Relevant Authorised Person or a person acting on his behalf will introduce to the Money-Lender persons with whom the Relevant Authorised Person has entered, or proposes to enter, into a Relevant Transaction, or will advise such persons to approach the Money-Lender, with a view to the Money-Lender lending money on the security of any contract effected pursuant to a Relevant Transaction;
(b) a Relevant Authorised Person gives an assurance to the Money-Lender as to the amount which, on the security of any contract effected pursuant to a Relevant Transaction, will or may be received by the Money-Lender should the Money-Lender lend money to a person introduced to him pursuant to the arrangements.