The Payment Services Regulations 2009

Disapplication of certain regulations in the case of consumer credit agreements

This sectionnoteType=Explanatory Memorandum has no associated

52.  The following provisions of the Consumer Credit Act 1974 shall apply in relation to contracts for the provision of payment services which are regulated agreements for the purposes of that Act in place of the following provisions of these Regulations—

(a)section 51 (prohibition of unsolicited credit tokens) in place of regulation 58(1)(b);

(b)sections 66 (acceptance of credit tokens) and 84 (misuse of credit tokens)(1) in place of regulations 59, 61 and 62;

(c)section 83 (liability for misuse of credit facilities) in place of regulations 59, 61 and 62;

(d)sections 76 (duty to give notice before taking certain action) and 87 (need for default notice) in relation to the grounds mentioned in regulation 56(2) in place of regulation 56(3) to (6).

(1)

Section 84 was amended by S.I. 2000/2095 and 2000/2334.