SCHEDULEINCREASES OF MONETARY LIMITS IN CONSUMER CREDIT ACT 1974
PART IINCREASES COMING INTO OPERATION ON 1ST JANUARY 1984
Section of the Act | Short Description | Present Limit | New Limit |
|---|---|---|---|
(1) | (2) | (3) | (4) |
17(1)(a) and (b) | Upper limit for small agreement | £30 | £50 |
75(3)(b) | Lower exemption limit for cash price of goods or services to which liability of creditor for breaches by supplier applies | £30 | £100 |
PART IIINCREASES COMING INTO OPERATION ON 20TH MAY 1985
Section of the Act | Short Description | Present Limit | New Limit |
|---|---|---|---|
(1) | (2) | (3) | (4) |
8(2) | Upper limit for regulated consumer credit agreement | £5,000 | £15,000 |
15(1)(c) | Upper limit for regulated consumer hire agreement | £5,000 | £15,000 |
43(3)(a) | Exemption limit for certain credit advertisements | £5,000 | £15,000 |
75(3)(b) | Upper exemption limit for cash price of goods or services to which liability of creditor for breaches by supplier applies | £10,000 | £30,000 |