The Consumer Credit (Exempt Agreements) (Amendment) Order 1995

Statutory Instruments

1995 No. 1250

CONSUMER CREDIT

The Consumer Credit (Exempt Agreements) (Amendment) Order 1995

Made

4th May 1995

Laid before Parliament

9th May 1995

Coming into force

6th June 1995

The Secretary of State, after consulting in accordance with section 16(3) of the Consumer Credit Act 1974(1) the persons referred to therein, in exercise of the powers conferred upon him by section 16(1) and (4) 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 1995 and shall come into force on 6th June 1995.

2.  The Consumer Credit (Exempt Agreements) Order 1989(2) is hereby amended in Schedule 1 in Part III by the insertion—

(a) after “General Portfolio Finance Limited”, of

“Gracechurch Mortgage Finance (No. 2) PLC

Gracechurch Mortgage Finance (No. 3) PLC”;

(b) after “HMC First Home National PLC”, of

“Homeloans Direct Limited

Homeloans Direct Funding PLC”; and

(c) after “Household Mortgage Corporation PLC” of

“Leamington Mortgage Corporation Limited

Legal & General Mortgage Services Limited”.

Ferrers

Minister of State for Small Firms and Consumer Affairs,

Department of Trade and Industry

4th May 1995

Explanatory Note

(This note is not part of the Order)

This Order amends the Consumer Credit (Exempt Agreements) Order 1989 by adding the names of six bodies corporate to the list, in Part III of Schedule 1 to the Order, of bodies corporate named or specifically referred to in Orders made under certain sections of the Housing Act 1985. Where such a body is named in Part III the Consumer Credit Act 1974 does not regulate certain of the agreements under which it advances money on the security of a dwelling-house.

(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)

SI 1989/869, amended by SI 1989/1841, 1989/2337, 1991/1393, 1991/1949, 1991/2844, 1993/346, 1993/2922 and 1994/2420.