http://www.legislation.gov.uk/ukpga/1974/39/section/140CConsumer Credit Act 1974An Act to establish for the protection of consumers a new system, administered by the Director General of Fair Trading, of licensing and other control of traders concerned with the provision of credit, or the supply of goods on hire or hire-purchase, and their transactions, in place of the present enactments regulating moneylenders, pawnbrokers and hire-purchase traders and their transactions; and for related matters.1978-09-30texttext/xmlenStatute Law Database2026-08-07Expert Participation2026-07-15 Consumer Credit Act 1974s. 25(2A)(b) (ia)Financial Services Act 2010Sch. 2 para. 36s. 26(3) Part IX140C1In this section and in sections 140A and 140B ‘credit agreement’ means any agreement between an individual (the ‘debtor’) and any other person (the ‘creditor’) by which the creditor provides the debtor with credit of any amount.2References in this section and in sections 140A and 140B to the creditor or to the debtor under a credit agreement include—areferences to the person to whom his rights and duties under the agreement have passed by assignment or operation of law;bwhere two or more persons are the creditor or the debtor, references to any one or more of those persons.3The definition of ‘court’ in section 189(1) does not apply for the purposes of sections 140A and 140B.4References in sections 140A and 140B to an agreement related to a credit agreement (the ‘main agreement’) are references to—aa credit agreement consolidated by the main agreement;ba linked transaction in relation to the main agreement or to a credit agreement within paragraph (a);ca security provided in relation to the main agreement, to a credit agreement within paragraph (a) or to a linked transaction within paragraph (b).5In the case of a credit agreement which is not a regulated consumer credit agreement, for the purposes of subsection (4) a transaction shall be treated as being a linked transaction in relation to that agreement if it would have been such a transaction had that agreement been a regulated consumer credit agreement.6For the purposes of this section and section 140B the definitions of ‘security’ and ‘surety’ in section 189(1) apply (with any appropriate changes) in relation to—aa credit agreement which is not a consumer credit agreement as if it were a consumer credit agreement; andba transaction which is a linked transaction by virtue of subsection (5).7For the purposes of this section a credit agreement (the ‘earlier agreement’) is consolidated by another credit agreement (the ‘later agreement’) if—athe later agreement is entered into by the debtor (in whole or in part) for purposes connected with debts owed by virtue of the earlier agreement; andbat any time prior to the later agreement being entered into the parties to the earlier agreement included—ithe debtor under the later agreement; andiithe creditor under the later agreement or an associate or a former associate of his.8Further, if the later agreement is itself consolidated by another credit agreement (whether by virtue of this subsection or subsection (7)), then the earlier agreement is consolidated by that other agreement as well.S. 140C inserted (6.4.2007) by Consumer Credit Act 2006 (c. 14), ss. {21}, 71(2) (with Sch. 3 para. 16); S.I. 2007/123, art. 3(2), Sch. 2S. 140A and preceding cross-heading inserted (6.4.2007) by Consumer Credit Act 2006 (c. 14), ss. {19}, 71(2) (with Sch. 3 para. 16); S.I. 2007/123, art. 3(2), Sch. 2Ss. 140A-140C applied (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 29(12) (with Pt. 4)