The Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2006

Statutory Instruments

2006 No. 3094

consumer credit

The Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2006

Made

18th November 2006

Laid before Parliament

23rd November 2006

Coming into force

19th December 2006

The Secretary of State makes the following Regulations in exercise of the powers conferred on him by sections 88(1) and 182(2) of the Consumer Credit Act 1974(1):

Citation, commencement and interpretation

1.  This Order may be cited as the Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2006 and shall come into force on 19^th December 2006.

Amendment of the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983

2.  The Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983(2) shall be amended as follows.

3.  In Schedule 2 in paragraphs 3(c), 3(d) and 6 for the words “not less than seven days” substitute “not less than fourteen days”.

Ian McCartney

Minister of State for Trade, Investment and Foreign Affairs

Department of Trade and Industry

18th November 2006

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983. They provide that default notices served under section 87 of the Consumer Credit Act 1974 shall specify—

(a) that where action is required to be taken by the debtor or hirer to remedy the breach or pay compensation, this action shall be taken within not more than 14 days after the service of the notice; and

(b) where no such action is required to be taken, the date on or after which the creditor or owner intends to take action, must not be less than 14 days from the date of the notice.

(1)

1974 c. 39.

(2)

S.I. 1983/1561, amended by S.I. 1984/1109; there are other amending instruments but none are relevant.