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The Consumer Credit (Early Settlement) Regulations 2004
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- UK Statutory Instruments
- 2004 No. 1483
- Regulation 5
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Settlement dateU.K.
5.—[F1(1)] The settlement date for calculation of the rebate [F2in regulation 4] shall be taken to be—
(a)where the debtor has given notice under [F3section 94(1)] of the Act with a view to discharging his indebtedness under the agreement, the date falling 28 days after the date on which the notice was received by the creditor, or any later date specified as the date of early settlement in the notice, if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;
(b)the date specified as the date for payment of any sum by the debtor involving early settlement in any notice served under section 76(1) of the Act, any default notice or any notice served under section 98(1), if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;
(c)in any other case, the date on which the debtor pays any sum involving early settlement.
[F4(2) The settlement date for the calculation of the rebate in regulation 4A shall be taken to be the date falling 28 days after the date on which the notice under section 94(4)(a) of the Act was received by the creditor, or any later date specified as the date of early settlement in the notice, if the debtor pays the amount in question not later than that date.]
Textual Amendments
F1reg. 5 renumbered as reg. 5(1) (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 83(a), 99(1) (with regs. 100, 101)
F2Words in reg. 5(1) inserted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 83(b)(i), 99(1) (with regs. 100, 101)
F3Words in reg. 5(1)(a) substituted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 83(b)(ii), 99(1) (with regs. 100, 101)
F4Reg. 5(2) inserted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 83(c), 99(1) (with regs. 100, 101)
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