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The Consumer Credit (Early Settlement) Regulations 2004
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- UK Statutory Instruments
- 2004 No. 1483
- Regulation 9
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Amendment of Regulations
9.—(1) Subject to regulation 10, the Consumer Credit (Settlement Information) Regulations 1983(1) are amended as follows.
(2) In regulation 3 (which determines the settlement date to be taken for the purposes of the Regulations)—
(a)paragraph (1) (which applies in the case of an agreement for credit to be repaid in instalments) is omitted, and
(b)in paragraph (2) (which applies in all other cases), the words “Where paragraph (1) does not apply” are omitted.
(3) In regulation 4 (which prescribes the number of working days within which a creditor is required to respond to a request for a statement indicating the amount required to discharge a debt), for “12” there is substituted “7”.
(4) In paragraph 7(a) of the Schedule (which provides for the statement to indicate, where any rebate is due, that the rebate has been calculated having regard to Regulations), for “the Consumer Credit (Rebate on Early Settlement) Regulations 1983” there is substituted “the Consumer Credit (Early Settlement) Regulations 2004”.
(1)
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