Energy Act 2011 (c. 16)

Part 1 E+W+S Energy efficiency

CHAPTER 1 E+W+S Green deal

Modifying consumer credit legislation E+W+S

25 Exemption from Consumer Credit Act 1974 in relation to credit to business debtors E+W+S

(1) Section 16B of the Consumer Credit Act 1974 (exemption relating to businesses) is amended as follows.

(2) After subsection (1) insert—

“(1A) This Act does not regulate a consumer credit agreement if—

(a) the credit provided by the creditor to the debtor by the agreement does not exceed £25,000,

(b) the agreement is entered into by the debtor wholly for the purposes of a business carried on, or intended to be carried on, by the debtor, and

(c) the agreement is a green deal plan (within the meaning of section 1 of the Energy Act 2011).”

(3) In subsection (2) after “If an agreement” insert “ falling within subsection (1) ”.

(4) After subsection (3) insert—

“(3A) Subsections (2) and (3) also apply in relation to an agreement falling within subsection (1A) but with the omission of the words “or predominantly”.

Commencement Information

I1 S. 25 in force at 28.1.2013 by S.I. 2013/125, art. 3(b)