Part V Entry into Credit or Hire Agreements
Exclusion of certain agreements from Part V
74 Exclusion of certain agreements from Part V.
1
This Part (except section 56) does not apply to—
a
a non-commercial agreement, or
b
a debtor-creditor agreement enabling the debtor to overdraw on a current account, or
c
a debtor-creditor agreement to finance the making of such payments arising on, or connected with, the death of a person as may be prescribed.
2
This Part (except sections 55 and 56) does not apply to a small debtor-creditor-supplier agreement for restricted-use credit.
F12A
In the case of an agreement to which the Consumer Protection (Cancellation of Contracts Concluded away from Business Premises) Regulations 1987 apply the reference in subsection (2) to a small agreement shall be construed as if in section 17(1)(a) and (b) “£35 ” were substituted for “£50 ”.
3
Subsection (1)(b) or (c) applies only where the Director so determines, and such a determination—
a
may be made subject to such conditions as the Director thinks fit, and
b
shall be made only if the Director is of the opinion that it is not against the interests of debtors.
F23A
Notwithstanding anything in subsection (3)(b) above, in relation to a debtor-creditor agreement under which the creditor is the Bank of England or a bank within the meaning of the Bankers’ Books Evidence Act 1879, the Director shall make a determination that subsection (1)(b) above applies unless he considers that it would be against the public interest to do so