The Consumer Credit (Agreements) (Amendment) Regulations 2004

Amendment of the Consumer Credit (Agreements) Regulations 1983

9.—(1) Regulation 7 (modifying agreements which are, or are treated as, regulated agreements) shall be amended as follows.

(2) For paragraph (3) substitute—

“(3) Where any information about financial and related particulars set out in paragraphs 8 to 10 of Part 1 of Schedule 8 to these Regulations cannot be exactly ascertained by the creditor, estimated information based on the assumptions referred to in paragraph 9 of that Schedule, where applicable, and otherwise such assumptions as the creditor may reasonably make in all the circumstances of the case and a statement of the assumptions made shall be included in documents embodying modifying agreements varying or supplementing earlier credit agreements.”.

(3) For paragraph (4) substitute—

“(4) Subject to paragraph (5) below and regulation 2(9), the information, statements of the protection and remedies, signature and separate boxes which under these Regulations must be contained in documents embodying modifying agreements varying or supplementing earlier credit agreements in relation to the credit being provided under the modifying agreement, shall be set out in the order given by paragraphs (a) to (f) below under, where applicable, the headings specified below—

(a) the nature of the agreement as set out in paragraph 1 of Part 1 of Schedule 8 to these Regulations;

(b) parties to the agreement as set out in paragraph 2 of Part 1 of Schedule 8 to these Regulations;

(c) under the heading “Key Financial Information”, the financial and related particulars set out in paragraphs 5 to 7B and 10 to 17 of Part 1 of Schedule 8 to these Regulations;

(d) under the heading “Other Financial Information”, the financial and related particulars set out in paragraphs 3, 4, 8, 9, 13A and 18 – 19A of Part 1 of Schedule 8 to these Regulations;

(e) under the heading “Key Information”—

(i) the information set out in paragraphs 20 to 23 of Part 1 of Schedule 8 to these Regulations; and

(ii) the statements of protection and remedies set out in Schedule 2 to these Regulations; and

(f) the signature box and, where applicable, separate box required by regulation 2(7)(b),

and such information, statements of protection and remedies, signature and separate boxes shall be shown together as a whole and shall not be preceded by any information apart from trade names, logos or the reference number of the agreement or interspersed with any other information or wording apart from subtotals of total amounts and cross references to the terms of the agreement.”.

(4) In paragraph (5) for the words “remaining financial and related particulars” to the end of the paragraph substitute “the information required by paragraph (4)(d) above.”.

(5) For paragraph (6)(b) substitute—

“(b) where it is subject to change, be accompanied by the word “variable”.”.

(6) For paragraph 11 substitute—

“(11) The information, statements of the protection and remedies, signature and separate boxes which under these Regulations must be contained in documents embodying modifying agreements varying or supplementing earlier hire agreements in relation to the goods to be bailed or hired under the modifying agreement, shall be set out in the order given by paragraphs (a) to (e) below under, where applicable, the headings specified below—

(a) the nature of the agreement as set out in paragraph 1 of Part II of Schedule 8 to these Regulations;

(b) the parties to the agreement as set out in paragraph 2 of Part II of Schedule 8 to these Regulations;

(c) under the heading “Key Financial Information”, the financial and related particulars set out in paragraphs 3 to 8 of Part II of Schedule 8 to these Regulations;

(d) under the heading “Key Information”—

(i) the information set out in paragraphs 9 to 11 of Part II of Schedule 8 to these Regulations; and

(ii) the information set out in Schedule 4 to these Regulations; and

(e) the signature box and, where applicable, separate box required by regulation 3(6).

and such information, statements of protection and remedies, signature and separate boxes shall be shown together as a whole and shall not be preceded by any information apart from trade names, logos or the reference number of the agreement or interspersed with any other information or wording apart from subtotals of total amounts and cross references to the terms of the agreement.”.