delete The Unfair Terms in Consumer Contracts (Amendment) Regulations 2001
Amendment Regulations 2001 that supplement the 1999 Regulations by: (1) adding regulation 16 treating FSA functions under these Regulations as functions under the Financial Services Act 1986, and (2) substituting an updated list of regulatory authorities in Schedule 1 to include the Financial Services Authority alongside other bodies such as the Gas and Electricity Markets Authority, Ofcom, Ofwat, and weights and measures authorities.
This amendment perpetuates an obsolete regulatory architecture - it references the Financial Services Act 1986 which has been superseded by the Financial Services and Markets Act 2000. The regime delegates consumer protection to a proliferation of regulators (9-10 bodies listed) creating coordination costs, regulatory capture risk, and compliance burdens for businesses. The underlying EU-derived Unfair Terms Directive framework (93/13/EEC) was retained post-Brexit without democratic scrutiny and assumes consumers cannot assess contract terms themselves, adding paternalistic overhead. The FSA's inclusion in this list is a technical mapping exercise that does nothing for consumer welfare and simply maintains bureaucratic continuity for an outdated supervisory structure.