PART 6Amendments to secondary legislation made under the 1974 Act
Revocation of secondary legislation made under the 1974 Act21
The following subordinate instruments, or the provisions of subordinate instruments, are revoked—
a
the Consumer Credit Licensing (Representations) Order 1976146;
b
the Consumer Credit (Termination of Licences) Regulations 1976147;
c
the Consumer Credit (Conduct of Business) (Credit References) Regulations 1977148;
d
the Consumer Credit (Total Charge for Credit) Regulations 1980149;
e
the Consumer Credit (Termination of Licences) (Amendment) Regulations 1981150;
f
the Consumer Credit (Conduct of Business) (Pawn Records) Regulations 1983151;
g
the Consumer Credit (Exempt Advertisements) Order 1985152;
h
the Consumer Credit (Total Charge for Credit and Rebate on Early Settlement) (Amendment) Regulations 1989153;
i
the Consumer Credit (Exempt Agreements) Order 1989154;
j
the Consumer Credit (Exempt Agreements) (Amendment) Order 1989155;
k
the Consumer Credit (Exempt Agreements) (Amendment) (No. 2) Order 1989156;
l
the Consumer Credit (Exempt Agreements) (Amendment) Order 1991157;
m
the Consumer Credit (Exempt Agreements) (Amendment) (No. 2) Order 1991158;
n
the Consumer Credit (Exempt Agreements) (Amendment) (No. 3) Order 1991159;
o
the lLink>Consumer Credit (Exempt Agreements) (Amendment) Order 1993160;
p
the Consumer Credit (Exempt Agreements) (Amendment) (No. 2) Order 1993161;
q
the Consumer Credit (Exempt Agreements) (Amendment) Order 1994162;
r
the Consumer Credit (Exempt Agreements) (Amendment) (No. 2) Order 1995163;
s
the Consumer Credit (Exempt Agreements) (Amendment) Order 1996164;
t
the Consumer Credit (Exempt Agreements) (Amendment) (No. 2) Order 1996165;
u
the Consumer Credit (Quotations) (Revocation) Regulations 1997166;
v
the Consumer Credit (Exempt Agreements) (Amendment) Order 1998167;
w
the Consumer Credit (Exempt Agreements) (Amendment) Order 1999168;
x
the Consumer Credit (Content of Quotations) and Consumer Credit (Advertisements) (Amendment) Regulations 1999169;
y
regulations 3 and 5 of the Consumer Credit (Total Charge for Credit, Agreements and Advertisements) (Amendment) Regulations 1999170;
z
the Consumer Credit (Conduct of Business) (Credit References) (Amendment) Regulations 2000171;
aa
the Consumer Credit (Advertisements and Content of Quotations) (Amendment) Regulations 2000172;
bb
the Consumer Credit (Advertisements) Regulations 2004173;
cc
the Consumer Credit (Exempt Agreements) (Amendment) Order 2006174;
dd
the Consumer Credit (Advertisements) (Amendment) Regulations 2007175;
ee
the Consumer Credit (Exempt Agreements) Order 2007176;
ff
the Consumer Credit (Exempt Agreements) (Amendment) Regulations 2008177;
gg
the Consumer Credit (Total Charge for Credit) Regulations 2010178;
hh
the Consumer Credit (Advertisements) Regulations 2010179;
ii
the Consumer Credit (Total Charge for Credit) (Amendment) Regulations 2012180.
Saving provision related to article 2122
The Consumer Credit (Agreements) Regulations 198323
1
The Consumer Credit (Agreements) Regulations 1983183 are amended as follows.
2
In regulation 1(2) (interpretation), for the definition of “the Total Charge for Credit Regulations” substitute—
“the total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;
3
In every other place where “Total Charge for Credit Regulations” appears, substitute “total charge for credit rules”.
4
In regulation 8 (application of Regulations), for paragraph (1B), substitute—
1B
Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraph (1A)(c).
5
In Schedule 1 (information to be contained in documents embodying regulated consumer credit agreements other than modifying agreements)—
a
in paragraph 10, in the second column, omit “regulation 6 of”;
b
before paragraph 19A, insert the heading “Land-related agreements”;
c
in paragraph 19A—
i
for the entry in the first column, substitute—
Agreements which—
a
are intended primarily to finance the acquisition or retention of land or the renovation or improvement of a building or any other agreement secured by a mortgage on land or, in Scotland, by a standard security within the meaning of the Conveyancing and Feudal Reform (Scotland) Act 1970184, and
b
provide for the possibility of any variation of the rate of interest if it is to be assumed, by virtue of the total charge for credit rules, that the variation will take place but the amount of the variation cannot be ascertained at the date of the making of the agreement.
ii
for the entry in the second column, for “regulation 15A(2) of the Total Charge for Credit Regulations 1980”185 substitute “the total charge for credit rules”.
6
In Schedule 7 (provisions relating to the disclosure of the APR)—
a
in paragraph 1, omit “regulation 6 of”;
b
in paragraphs 2 and 3, omit “the Schedule to”.
7
In Schedule 8 (regulated modifying agreements)—
a
in paragraph 9, in sub-paragraph (1) of column 2, omit “regulation 6 of”;
b
before paragraph 19A, insert the heading “Land-related agreements”;
c
in paragraph 19A—
i
in the entry in the first column, for “regulation 15A of the Total Charge for Credit Regulations 1980” substitute “paragraph 19A of Schedule 1”;
ii
for the entry in the second column, for “regulation 15A(2) of the Total Charge for Credit Regulations 1980” substitute “the total charge for credit rules”.
The Consumer Credit (Early Settlement) Regulations 200424
In regulation 1(2) of the Consumer Credit (Early Settlement) Regulations 2004 (interpretation)186—
a
for the definition of “the Total Charge for Credit Regulations” substitute—
“the total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;
b
in every other place where “Total Charge for Credit Regulations” appears, substitute “total charge for credit rules”.
The Consumer Credit (Information Requirements and Duration of Licences and Charges) Regulations 200725
In the Consumer Credit (Information Requirements and Duration of Licences and Charges) Regulations 2007187, omit regulation 42 and 43 (duration of licences and charges).
The Consumer Credit (Disclosure of Information) Regulations 201026
1
The Consumer Credit (Disclosure of Information) Regulations 2010188 are amended as follows.
2
In every place where “Total Charge for Credit Regulations” appears (other than in the definition of “the Total Charge for Credit Regulations” and in regulation 1(7)), substitute “total charge for credit rules”.
3
In regulation 1 (citation, commencement interpretation)—
a
in paragraph (2), in the definition of “credit intermediary”, for “section 160A” substitute “section 61A”;
b
in paragraph (2), for the definition of “the Total Charge for Credit Regulations” substitute—
“the total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;
c
omit paragraph (7).
4
In regulation 2 (agreements to which these Regulations apply), for paragraph (6) substitute—
6
Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraph (4)(c).
5
In regulation 3(5)(b) (information to be disclosed: agreements other than telephone contracts, non-telephone distance contracts, excluded pawn agreements and overdraft agreements), for “regulation 6(g) of the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “the total charge for credit rules”.
6
In regulation 6 (information to be disclosed: distance contracts for the purpose of a business), for paragraph (3) substitute—
3
Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraph (1).
7
In regulation 7, for paragraph (3) substitute—
3
Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraph (1).
8
In Schedule 1 (pre-contract credit information)—
a
in table 3, omit “regulation 6(g) of”;
b
in table 5, for “Office of Fair Trading” substitute “Financial Conduct Authority”.
9
In Schedule 2 (provisions relating to calculation and disclosure of the total charge for credit and APR)—
a
in paragraph 1(a), for “regulation 6(o) of the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “the total charge for credit rules”;
b
in paragraphs 3 and 4, for “regulation 5 of the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “the total charge for credit rules”.
10
In Schedule 3 (European Consumer Credit Information), in table 5, for “Office of Fair Trading” substitute “Financial Conduct Authority”.
The Consumer Credit (Agreements) Regulations 201027
1
The Consumer Credit (Agreements) Regulations 2010189 are amended as follows.
2
In every place where “Total Charge for Credit Regulations” appears (other than in the definition of “the Total Charge for Credit Regulations” and in regulation 1(6)), substitute “total charge for credit rules”.
3
In regulation 1 (citation, commencement interpretation)—
a
in paragraph (3), in the definition of “credit intermediary”, for “section 160A” substitute “section 61A”;
b
in paragraph (3), for the definition of “the Total Charge for Credit Regulations” substitute—
“the total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order;
c
omit paragraph (6).
4
In regulation 2 (agreements to which these regulations apply), for paragraph (6) substitute—
6
Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraphs (3)(c) and (5).
5
In Schedule 1 (information to be included in regulated consumer credit agreements), in paragraph 33, in the second column, for “Office of Fair Trading” substitute “Financial Conduct Authority”.
6
In Schedule 4 (provisions relating to calculation and disclosure of the total charge for credit and APR)—
a
in paragraph 1(a), for “regulation 6(o) of the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “the total charge for credit rules”;
b
in paragraphs 3 and 4, for “regulation 5 of the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “the total charge for credit rules”.