The Consumer Credit (Exempt Advertisements) Order 1985

Statutory Instruments

1985 No. 621

CONSUMER CREDIT

The Consumer Credit (Exempt Advertisements) Order 1985

Made

17th April 1985

Laid before Parliament

26th April 1985

Coming into Operation

20th May 1985

The Secretary of State, in exercise of powers conferred on him by section 43(5) of the Consumer Credit Act 1974 and of all other powers enabling him in that behalf, hereby makes the following Order:—

1.—(1) This Order may be cited as the Consumer Credit (Exempt Advertisements) Order 1985 and shall come into operation on 20th May 1985.

(2) The Consumer Credit (Exempt Advertisements) Order 1980 and the Consumer Credit (Exempt Advertisements) (Amendment) Order 1980 are hereby revoked.

2.  Part IV of the Consumer Credit Act 1974 (which relates to seeking credit or hire business) shall not apply to advertisements of the following descriptions, that is to say—

(a) advertisements in so far as they relate to consumer credit agreements to which any of sub-paragraphs (a), (c) and (d) of Article 3(1) of the Consumer Credit (Exempt Agreements) Order 1985 (which provides that the Consumer Credit Act 1974 shall not regulate consumer credit agreements where the number of payments to be made by the debtor does not exceed a specified number) applies;

(b) advertisements in so far as they relate to consumer credit agreements to which sub-paragraph (b) of Article 4(1) of the said Order (which provides that the said Act shall not regulate consumer credit agreements where the rate of the total charge for credit does not exceed a specified rate) applies;

(c) advertisements in so far as they relate to consumer credit agreements to which Article 5 of the said Order (which provides that the said Act shall not regulate certain consumer credit agreements having a connection with a country outside the United Kingdom) applies;

(d) advertisements in so far as they relate to consumer hire agreements to which Article 6 of the said Order (which provides that the said Act shall not regulate certain consumer hire agreements made by certain public bodies) applies;

(e) advertisements in so far as they relate to agreements which would be consumer credit agreements if the credit provided thereunder were not to exceed £15,000, being advertisements which would otherwise fall within (a), (b) or (c) above; and

(f) advertisements in so far as they relate to agreements which would be consumer hire agreements if the payments thereunder were not required to exceed £15,000, being advertisements which would otherwise fall within (d) above.

Alexander Fletcher

Parliamentary Under-Secretary of State

Department of Trade and Industry

17th April 1985

EXPLANATORY NOTE

This Order, which supersedes the Consumer Credit (Exempt Advertisements) Order 1980 as amended, provides that Part IV of the Consumer Credit Act 1974 (which relates to seeking credit or hire business) shall not apply to advertisements of a description specified in the Order. It reflects the increased upper limit of £15,000 for consumer credit agreements and consumer hire agreements in sections 8(2) and 15(1)(c) of the Act effected by the Consumer Credit (Increase of Monetary Limits) Order 1983 (S.I. 1983/1878).