Section 23(1C)

The Treasury may designate a regulated activity under subsection (1B) only if the activity involves a person— entering into or administering an agreement under which the person provides another person with credit, exercising or being able to exercise the rights of the lender under an agreement under which another person provides a third party with credit, or taking steps to procure payment of debts due under an agreement under which another person is provided with credit.

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Source: legislation.gov.uk · retrieved 2026-09-04