The Cancellation of Contracts made in a Consumer’s Home or Place of Work etc. Regulations 2008

Interpretation

2.—(1) In these Regulations:

“the 1974 Act” means the Consumer Credit Act 1974(1);

“cancellable agreement” has the same meaning as in section 189(1) of the 1974 Act;

“cancellation notice” means a notice in writing given by the consumer which indicates that he wishes to cancel the contract;

“cancellation period” means the period of 7 days starting with the date of receipt by the consumer of a notice of the right to cancel;

“consumer” means a natural person who in making a contract to which these Regulations apply is acting for purposes which can be regarded as outside his trade or profession;

“consumer credit agreement” means an agreement between the consumer and any other person by which the other person provides the consumer with credit of any amount;

“credit” includes a cash loan and any other form of financial accommodation, and for this purpose “cash” includes money in any form;

“enforcement authority” means any person mentioned in regulation 21;

“fixed sum credit” has the same meaning as in section 10(1) of the 1974 Act(2);

“notice of the right to cancel” means a notice given in accordance with regulation 7;

“related credit agreement” means a consumer credit agreement under which fixed sum credit which fully or partly covers the price under a contract which may be cancelled under regulation 7 is granted—

(i)

by the trader; or

(ii)

by another person, under an arrangement made between that person and the trader;

“solicited visit” has the meaning given in regulation 6(3);

“specified contract” has the meaning given in regulation 9; and

“trader” means a person who, in making a contract to which these Regulations apply, is acting in his commercial or professional capacity and anyone acting in the name or on behalf of a trader.

(2) Paragraph 8(2) of Schedule 3 has effect for the purposes of paragraphs 7 and 8(1).

(1)

1974 c.39.

(2)

Section 10 of the Consumer Credit Act 1974 was amended by section 5(2) of the Consumer Credit Act 2006 (c.14).