The Consumer Credit (Exempt Agreements) (Amendment) Order 1989

Statutory Instruments

1989 No. 1841

CONSUMER CREDIT

The Consumer Credit (Exempt Agreements) (Amendment) Order 1989

Made

9th October 1989

Laid before Parliament

10th October 1989

Coming into force

1st November 1989

The Secretary of State, after consulting in accordance with section 16(3) of the Consumer Credit Act 1974(1) the persons therein referred to, in exercise of the powers conferred on him by sections 16(1) and (5) and 182(2) and (4) of that Act, and of all other powers enabling him in that behalf, hereby makes the following Order:

1.  This Order may be cited as the Consumer Credit (Exempt Agreements) (Amendment) Order 1989 and shall come into force on 1st November 1989.

2.  The Consumer Credit (Exempt Agreements) Order 1989(2) is hereby amended in Schedule 1 as follows:

(a) in Part I, by omitting the entry “Langham Life Assurance Company Limited” and substituting therefor, at the appropriate place in alphabetical order, the entry “UK Life Assurance Company Limited”;

(b) in Part III –

(i) by the insertion, after the entry “London and Manchester (Mortgages) (No. 2) Limited”, of the following entries –

“London and Manchester (Mortgages) (No. 3) Limited

London and Manchester (Mortgages) (No. 4) Limited”; and

(ii) by the addition, after the entry “Royal London Homebuy Limited”, of the following entry –

“Wesleyan Home Loans Limited”; and

(c) in Part IV, by the addition, after the entry “American Express Bank Limited”, of the following entry –

“Merchants National Bank & Trust Company of Indianapolis”.

Eric Forth

Parliamentary Under-Secretary of State,

Department of Trade and Industry

9th October 1989

Explanatory Note

(This note is not part of the Order)

This Order amends the Consumer Credit (Exempt Agreements) Order 1989, insofar as it provides exemption for the purposes of the Consumer Credit Act 1974 of certain consumer credit agreements where the creditor is a body specified in Schedule 1 to that Order, by amending the name of one body in Part I of that Schedule, and by adding to the list in Part III the names of three bodies and to the list in Part IV the name of one body.

(1)

1974 c. 39; section 16 was amended by the Employment Protection Act 1975 (c. 71), Schedule 18, the Telecommunications Act 1984 (c. 12), Schedule 4, paragraph 60, the Building Societies Act 1986 (c. 53), Schedule 18, the Housing and Planning Act 1986 (c. 63), section 22, the Banking Act 1987 (c. 22), section 88, the Housing (Scotland) Act 1987 (c. 26), Schedule 23, paragraph 21 and the Housing Act 1988 (c. 50), Schedule 17, paragraph 20.

(2)

S.I. 1989/869.