The Consumer Credit (Exempt Agreements) (Amendment) Order 1991

Statutory Instruments

1991 No. 1393

CONSUMER CREDIT

The Consumer Credit (Exempt Agreements) (Amendment) Order 1991

Made

14th June 1991

Laid before Parliament

18th June 1991

Coming into force

9th July 1991

The Secretary of State, after consulting in accordance with section 16(3) of the Consumer Credit Act 1974(1) the persons therein referred to, in exercise of the powers conferred on him by sections 16(1), (4), (5) and (6) and 182(2) and (4) of that Act, and of all other powers enabling him in that behalf, hereby makes the following Order:

1.  This Order may be cited as the Consumer Credit (Exempt Agreements) (Amendment) Order 1991 and shall come into force on 9th July 1991.

2.  The Consumer Credit (Exempt Agreements) Order 1989(2) is hereby amended as follows—

(a) in article 4—

(i) in paragraph (2)(b), by substituting for the figure “14” the figure “15”; and

(ii) in paragraph (6), by substituting for the words “TSB England and Wales public limited company” the words “TSB Bank Plc”;

(b) in article 6, by inserting before the words “electricity or water” wherever they occur the word “gas,”;

(c) in Part I of Schedule 1—

(i) by inserting after the entry—

• “The Equitable Life Assurance Society” the entry—

  • “Equico International Limited”;

(ii) by inserting after the entry—

• “Pioneer Mutual Insurance Company Limited” the entry—

  • “Prolific Life and Pensions Limited”;

(iii) by substituting for the entry—

• “Nottingham Oddfellows Friendly Society” the entry—

  • “Nottingham Oddfellows Assurance Friendly Society”;

(iv) by deleting the entries—

• “Provincial Life Assurance Company Limited”

  • “The Loyal Order of Ancient Shepherds (Ashton Unity) Friendly Society”;

(v) by inserting after the entry—

• “The Scottish Legal Life Assurance Society” the entry—

  • “The Shepherds Friendly Society”; and

(vi) by inserting after the entry—

• “Church of Scotland Trust” the entry—

  • “The Representative Body of the Church in Wales”;

(d) by substituting for Part III of Schedule 1, the following Part—

“PART III bodies corporate named or specifically referred to in an order made under section 156(4), 444(1) or 447(2)(a) of the housing act 1985

Abbey Life Executive Mortgages Limited

Abbey Life Funding Limited

Abbey Life Home Loans Limited

Abbey Life Home Services Limited

Abbey Life Mortgage Finance Limited

Abbey Life Mortgage Loans Limited

Abbey Life Mortgage Securities Limited

Abbey Life Residential Loans Limited

CIS Mortgage Maker Limited

General Portfolio Finance Limited

Halifax Loans Limited

Halifax Loans (No. 2) Limited

Halifax Loans (No. 3) Limited

Halifax Loans (No. 4) Limited

HMC First Home National PLC

Household Mortgage Corporation PLC

Lombard Home Loans Limited

London and Manchester (Mortgages) (No. 1) Limited

London and Manchester (Mortgages) (No. 2) Limited

London and Manchester (Mortgages) (No. 3) Limited

London and Manchester (Mortgages) (No. 4) Limited

The Mortgage Corporation Limited

The National Home Loans Corporation Limited

National Mutual Home Loans plc

National Westminster Home Loans Limited

Royal London Homebuy Limited

Secured Residential Funding PLC

Sun Life of Canada Home Loans Limited

Wesleyan Home Loans Limited”

Edward Leigh

Parliamentary Under-Secretary of State,

Department of Trade and Industry

14th June 1991

Explanatory Note

(This note is not part of the Order)

This Order provides for further, miscellaneous, amendments to the Consumer Credit (Exempt Agreements) Order 1989.

It clarifies the provision made by article 4(2)(b) of that Order in relation to agreements which will not be exempted from regulation under the Consumer Credit Act 1974 if they permit creditors to increase certain amounts charged for credit, by altering a reference to the Consumer Credit (Total Charge for Credit) Regulations 1980 (S.I. 1980/51).

It also exempts, in a manner consistent with existing exemptions conferred on electricity and water suppliers, consumer hire agreements relating to meters and metering equipment where the owner is a body corporate authorised to supply gas.

The Order makes provision for exemption for certain consumer credit agreements where the creditor is a body specified in Schedule 1 to the Order by adding one insurance company and one charity to the list in Part I, and eight bodies to the list in Part III, of that Schedule.

(1)

1974 c. 39; section 16 was amended by the Employment Protection Act 1975 (c. 71), section 125 and Schedule 18; the Telecommunications Act 1984 (c. 12), section 109 and Schedule 4, paragraph 60; the Building Societies Act 1986 (c. 53), section 120 and Schedules 18 and 19; the Housing and Planning Act 1986 (c. 63), section 22; the Banking Act 1987 (c. 22), section 88; the Housing (Scotland) Act 1987 (c. 26), section 339 and Schedule 23, paragraph 21 and the Housing Act 1988 (c. 50), section 140 and Schedule 17, paragraph 20.

(2)

S.I. 1989/869, amended by S.I. 1989/1841 and 2337.