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2004 No. 2619

CONSUMER CREDIT

The Consumer Credit (Miscellaneous Amendments) Regulations 2004

  Made 7th October2004 
  Laid before Parliament 8th October 2004 
  Coming into force
  Regulations 1, 2, 3(1), (2) and (4) 31st October 2004 
  Remainder 31st May 2005 

The Secretary of State, in exercise of the powers conferred upon her by sections 44, 60, 61(1)(a), 64(1), 95, 105(9), 114(1), 151(1), 180(1), 182(2) and 189(1) of the Consumer Credit Act 1974[1] hereby makes the following Regulations:

Citation and Commencement
     1.  - (1) These Regulations may be cited as the Consumer Credit (Miscellaneous Amendments) Regulations 2004.

    (2) This regulation and regulations 2 and 3(1), (2) and (4) shall come into force on 31st October 2004 and all other regulations shall come into force on 31st May 2005.

Amendment of the Consumer Credit (Agreements) (Amendment) Regulations 2004
     2.  - (1) The Consumer Credit (Agreements) (Amendment) Regulations 2004[2] shall be amended as follows.

    (2) In regulation 4 for paragraph (4)(c) (form and content of regulated consumer credit agreements) of the substituted regulation 2 substitute - 

    (3) After regulation 5(3) (form and content of regulated consumer hire agreements) insert - 

    (4) For regulation 9(3) (modifying agreements which are, or are treated as, regulated agreements) substitute - 


    (6) In regulation 11 in Column 3 of the substituted Form 4 - 

    (7) In regulation 11 in Column 2 of the substituted Form 5 for the words "3 or 6" substitute "4 or 6".

    (8) In regulation 11 in Column 3 of the substituted Form 18 for "£x****" in the first place where it appears substitute "£x***".

Amendment of the Consumer Credit (Advertisements) Regulations 2004
     3.  - (1) The Consumer Credit (Advertisements) Regulations 2004[5] shall be amended as follows.

    (2) In Schedule 2 (information to be contained in a credit advertisement) in the shoulder note for the words "and (6)" substitute "and (5)".

    (3) In Schedule 2 for paragraph 7 (total amount payable by the debtor) substitute - 

    (4) In Schedule 3 (information to be contained in a hire advertisement) - 

Amendment of the Consumer Credit (Early Settlement) Regulations 2004
     4. In regulation 3(2)(d) (items included in the calculation of rebate) of the Consumer Credit (Early Settlement) Regulations 2004[6] omit the words from ", other than" to the end.

Amendment of the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983
     5.  - (1) The Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983[7] shall be amended as follows.

    (2) In regulation 5 (Copies of cancellable unexecuted and executed agreements) - 

    (3) For Part II of the Schedule substitute - 




    (4) For Part III of the Schedule substitute - 




    (5) For Part VI of the Schedule substitute - 





Sainsbury of Turville,
Parliamentary Under Secretary of State for Science and Innovation, Department of Trade and Industry

7th October 2004



EXPLANATORY NOTE

(This note is not part of
the Regulations)


These Regulations amend the Consumer Credit (Agreements) (Amendment) Regulations 2004 ("the Agreements Amendment Regulations"), the Consumer Credit (Advertisements) Regulations 2004 ("the Advertisements Regulations"), the Consumer Credit (Early Settlement) Regulations 2004 ("the Early Settlement Regulations") and the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983 ("the Copies of Documents Regulations"). The principal amendments made by the Regulations are as follows - 

    (1) they correct typographical and cross-reference errors in the Agreements Amendment Regulations and substitute a new paragraph 23 of Schedule 1 into the Consumer Credit (Agreements) Regulations 1983 (S.I. 1983/2553) to include reference to cancellation under the Consumer Credit Act 1974, the Timeshare Act 1992 and the Financial Services (Distance Marketing) Regulations 2004;

    (2) they amend Schedule 2 to the Advertisements Regulations by substituting a new paragraph 7 concerning the total amount payable by the debtor;

    (3) they amend regulation 3(2) of the Early Settlement Regulations relating to items included in the calculation of rebate;

    (4) they remove wording in the statutory notices in both Schedule 2 to the Consumer Credit (Agreements) Regulations 1983 and the Schedule to the Copies of Documents Regulations relating to Health and Safety Regulations;

    (5) they substitute new Parts II, III and VI of the Schedule to the Copies of Documents Regulations relating to the Forms of notice of cancellation rights to be included in copies of agreements and to be sent by post to debtors or hirers.


Notes:

[1] 1974 c. 39; section 189(1) is cited for the definitions of "prescribed" and "regulations".back

[2] S.I. 2004/1482.back

[3] 1992 c. 35.back

[4] S.I. 2004/2095.back

[5] S.I. 2004/1484.back

[6] S.I. 2004/1483.back

[7] S.I. 1983/1557; relevant amending instruments are S.I. 1984/1108, and 1988/2047.back



ISBN 0 11 049920 4


  © Crown copyright 2004

Prepared 19 October 2004


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