1985 No. 666

CONSUMER CREDIT

The Consumer Credit (Agreements and Cancellation Notices and Copies of Documents) (Amendment) Regulations 1985

Made

Laid before Parliament

Coming into Operation

The Secretary of State, in exercise of the powers conferred on him by sections 60, 180, 182(2) and 189(1) of the Consumer Credit Act 1974 and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

1

These Regulations may be cited as the Consumer Credit (Agreements and Cancellation Notices and Copies of Documents) (Amendment) Regulations 1985 and shall come into operation on 19th May 1985.

2

Regulation 2 of the Consumer Credit (Agreements) Regulations 19831 is hereby amended by the insertion in paragraphs (3), (6) and (7) after the words “consumer credit agreements” of the words “, other than agreements of the description specified in the Schedule to the Consumer Credit (Notices of Cancellation Rights) (Exemptions) Regulations 1983 in relation to which there are no charges forming part of the total charge for credit,”.

3

Regulation 11 of the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 19832 is hereby amended by the insertion after paragraph (a) of the following paragraph:—

aa

in the case of an agreement of the description specified in the Schedule to the Consumer Credit (Notices of Cancellation Rights) (Exemptions) Regulations 1983 and terms of which are contained in a catalogue which is at all reasonable times during the agreement readily available for inspection by the debtor, a copy of the catalogue in question;

Alexander FletcherParliamentary Under-Secretary of StateDepartment of Trade and Industry
EXPLANATORY NOTE

These Regulations amend the Consumer Credit (Agreements) Regulations 1983. They provide exemptions from Regulation 2(3), (6) and (7) in the case of consumer credit agreements regulated by the Consumer Credit Act 1974 for which there is no charge for credit and which satisfy all the conditions specified in the Schedule to the Consumer Credit (Notice of Cancellation Rights) (Exemptions) Regulations 1983, namely they are agreements:—

(a) which finance the supply of goods by the creditor to the debtor;

(b) where relevant printed matter or audio-visual material containing the information required to be given in full credit advertisements under the Consumer Credit (Advertisements) Regulations 1980 (S.I. 1980/54, the relevant amending instruments being S.I. 1980/1360, 1983/110, as from 20th May 1985 S.I. 1985/619 and as from 1st September 1985 S.I. 1984/1055) contains or is accompanied by a prominent notice indicating that the material is available to the debtor to study in the absence of the negotiator before signing;

(c) under which the debtor may return the goods undamaged within 14 days of receipt without liability; and

(d) where contact will be maintained between the debtor and the creditor, or his agent or the negotiator, during the agreement for the collection of payments due under it.

The Regulations also amend the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983. They provide that copies of catalogues containing terms of agreements regulated by the Act do not need to be provided with copy agreements given under the Act which satisfy all the said conditions, where the catalogue is at all reasonable times during the agreement readily available for inspection by the debtor.