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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.

credit token

    157a credit token is a card, check, voucher, coupon, stamp, form, booklet or other document or thing given161 to an individual by a person carrying on a credit-related regulated activity ("the provider"), who undertakes that:

      1. (a) on production of it (whether or not some other action is also required) the provider will supply cash, goods or services (or any of them) on credit; or
      1. (b) where, on the production of it to a third party (whether or not any other action is also required), the third party supplies cash, goods and services (or any of them), the provider will pay the third party for them (whether or not deducting any discount or commission), in return for payment to the provider by the individual and the provider shall, without prejudice to the definition of credit, be taken to provide credit drawn on whenever a third party supplies the individual with cash, goods or services; and

    the use of an object to operate a machine provided by the person giving the object or a third party shall be treated as the production of the object to that person or third party.