Restrictive Trade Practices Act 1977

2 Restrictive agreements as to goods.

(1) In this section " financing terms " means provisions for any of the following, that is to say—

(a) the making or continuation of a loan;

(b) the granting or continuation of any form of credit or of facilities for credit;

(c) the supply of any property by way of lease or hire (with or without the option to acquire the ownership of the property);

(d) the assumption of any liability in the event of a person's default; and

(e) the granting of any right to resort to any property in the event of a person's default.

(2) Subject to the following provisions of this section, where an agreement, whenever made, contains financing terms, paragraphs (3) and (4) of the Article set out in Part I of the Schedule to this Act apply—

(a) for the purpose of determining whether the agreement is one to which the [1976 c. 34.] Restrictive Trade Practices Act 1976 applies by virtue of section 6 of that Act; and

(b) if the agreement was made before the commencement of that Act, also for the purpose of determining whether it was one to which Part I of the [1956 c. 68.] Restrictive Trade Practices Act 1956 applied;

and in those paragraphs as so applying " financing terms " has the same meaning as in this section.

(3) The Secretary of State may by statutory instrument make an order specifying matters (in addition to those mentioned in section 9 of the Act of 1976) which are to be disregarded for the purpose of determining whether an agreement is one to which that Act applies by virtue of section 6 of that Act.

(4) An order under this section may vary or repeal subsections (1) and (2) above so far as they relate to the Act of 1976 and may be varied or revoked by a subsequent order under this section.

(5) No order shall be made under this section unless a draft of the order has been laid before, and approved by resolution of, each House of Parliament.