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Consumer Credit Act 1974
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Changes over time for: Section 102
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Changes to legislation:
Consumer Credit Act 1974, Section 102 is up to date with all changes known to be in force on or before 22 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 25(2A)(b) (ia) inserted by 2010 c. 28 Sch. 2 para. 36
102 Agency for receiving notice of rescission.U.K.
(1)Where the debtor or hirer under a regulated agreement claims to have a right to rescind the agreement, each of the following shall be deemed to be the agent of the creditor or owner for the purpose of receiving any notice rescinding the agreement which is served by the debtor or hirer—
(a)a credit-broker or supplier who was the negotiator in antecedent negotiations, and
(b)any person who, in the course of a business carried on by him, acted on behalf of the debtor or hirer in any negotiations for the agreement.
(2)In subsection (1) “rescind ” does not include—
(a)service of a notice of cancellation, or
(b)termination of an agreement under section 99 or 101 or by the exercise of a right or power in that behalf expressly conferred by the agreement.
Modifications etc. (not altering text)
C1S. 102 excluded (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 12(2) (with art. 1(3))
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