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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

hire-purchase agreement

    32in accordance with article 60L of the Regulated Activities Order, an agreement:

      1. (a) which is not a conditional sale agreement;
      1. (b) under which goods are bailed or, in Scotland, hired to a person ("P") in return for periodical payments by P; and
      1. (c) the property in the goods will pass to P if the terms of the agreement are complied with and one or more of the following occurs:
        1. (i) the exercise by P of an option to purchase the goods;
        1. (ii) the doing by any party to the agreement of any other act specified in the agreement; or
        1. (iii) the happening of any event specified in the agreement