Miscellaneous Regulated activities and application of Consumer Credit Act 1974
Prior to the transfer of consumer credit regulation to the FCA, consumer credit activities were subject to a licensing regime under the Consumer Credit Act 1974, and so required a licence from the Office of Fair Trading unless the activities were exempt.
	When consumer credit was transferred to the FCA, a power was conferred on HM Treasury by section 107(6) of the Financial Services Act 2012 to allow the consumer protection regime imposed under the Consumer Credit Act to be amended to "fit" with the new regime under FSMA. This power is available in relation to activities for which a licence from the Office of Fair Trading was required under the previous regime, or those which were subject to a limited set of exemptions.
	While this power is therefore available in relation to the vast majority of consumer credit activities currently regulated by the FCA, it is not currently available in relation to activities which were exempt under other provisions of the Consumer Credit Act 1974.
	Section 37 modifies this power to extend it, and gives HM Treasury power to exclude provisions of the Consumer Credit Act 1974 from applying to activities which currently fall within the relevant exemptions in the Regulated Activities Order, either when they are brought within the scope of regulation or at any point thereafter.
	The provisions of the Consumer Credit Act 1974 would otherwise apply to such activities, once brought within the scope of regulation, by virtue of section 8 of that Act (which defines consumer credit agreements by reference to those credit agreements regulated by the FCA as set out in Chapter 14A of Part 2 of the Regulated Activities Order).