Credicorp

FSMA RAO (Regulated Activities Order)

The FSMA RAO is the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. It is the secondary legislation that lists which financial activities are "regulated activities" requiring authorisation, and which fall outside that requirement. For lending, the RAO is where the boundary of the consumer-credit regime is drawn.

What it is: A statutory order made under the Financial Services and Markets Act 2000.
Article 60B: Defines a regulated credit agreement.
Article 60L: Contains exemptions, including the treatment of borrowing by bodies corporate.

Feedback & complaints

Terms & conditions

Privacy

Cookie policy

Article 60B — regulated credit agreements

Article 60B defines what counts as a regulated credit agreement for the purposes of the consumer-credit regime. The definition is built around credit provided to individuals and certain small unincorporated bodies. Where an agreement does not meet that definition — for example because the borrower is a limited company — it is not a regulated credit agreement, and the consumer-credit rules do not apply.

FCA The FCA is the UK's financial-services regulator. Its consumer-credit perimeter covers lending to individuals; lending to companies and LLPs sits outside… Exempt lending Exempt lending is credit that falls outside the UK consumer-credit regime. Lending to a body corporate — a limited company or LLP — is exempt under FSMA… Body corporate A body corporate is a legal entity, such as a limited company or LLP, that is separate in law from the people who own or run it — and is the kind of… Limited company A limited company is a UK business structure registered at Companies House that exists as a separate legal person from its owners, giving its shareholders… /legal/vulnerability/ How Credicorp, a UK business lender, supports customers going through a difficult time — vulnerability policy and support routes. Vulnerable customer A vulnerable customer is someone whose circumstances make them less able to manage a financial relationship or more at risk of harm. Good lenders identify… UK GDPR UK GDPR is the United Kingdom's General Data Protection Regulation — the retained version of the EU GDPR — which governs how organisations, including… Companies House Companies House is the UK's registrar of companies. It incorporates and dissolves limited companies and LLPs, and maintains the public register of company… Business loan A business loan is borrowing taken out in the name of a company or LLP rather than an individual, repaid over an agreed term. Short-term business loans… Limited liability Limited liability means the owners of a company or LLP are not personally responsible for its debts beyond what they have agreed to contribute — their… What is APR? UK annual percentage rate explained What is APR in the UK? Annual percentage rate expresses the yearly cost of borrowing as a single percentage, combining the interest rate with any…

Article 60L — exempt agreements

Article 60L and the surrounding provisions carve out agreements that are exempt from the regime. The treatment of borrowing by bodies corporate is part of how the perimeter is set: credit to a limited company or LLP is not regulated consumer credit. This is the legal foundation for "exempt lending" — business credit that sits, by design, outside the consumer-credit regime.

Why this matters for a borrower

For a director, the practical effect is that the consumer-credit protections — and the consumer-credit paperwork — are not all engaged when the borrower is a company. A responsible lender will still provide clear pre-contract information and fair treatment, but it does so as good practice rather than because the consumer-credit rules require it. Knowing which regime applies helps a director read an agreement in the right context.

The FSMA RAO and Credicorp

Credicorp lends only to UK limited companies and LLPs, so its lending sits outside the consumer-credit regime under Articles 60B and 60L of the FSMA RAO. We apply recognised lending standards voluntarily. This is general information about the law, not legal advice. Credicorp is an independent UK lender, not affiliated with Credicorp Inc of Peru, Credit Corp of Australia, or any other Credicorp entity outside the United Kingdom (Company No. 16093826; ICO ZC157682).

Explore related UK business lending terms

Full business lending glossary UK →

Ready when your company is

A 5-minute application. AI decision in minutes, confirmed by a real underwriter. Same-day funding on approval. No personal guarantee.

Apply now — takes 5 minutes Contact us