The Consumer Credit (EU Directive) Regulations 2010

1. Introductory Text

2. PART 1 General

   1. 1. Citation and commencement

3. PART 2 Amendments to primary legislation

   1. 2. Amendments to Consumer Credit Act 1974

   2. 3. Pre-contractual explanations etc

   3. 4. In section 185 (agreement with more than one debtor or...

   4. 5. Assessment of creditworthiness

   5. 6. Copy of draft consumer credit agreement

   6. 7. Information to be included in agreements

   7. 8. Duty to supply copies

   8. 9. After section 61A (duty to supply copy of executed consumer...

   9. 10. In section 62 (duty to supply copy of unexecuted agreement)—...

   10. 11. In section 63 (duty to supply copy of executed agreement)—...

   11. 12. In section 127 (enforcement orders in cases of infringement) in...

   12. 13. Withdrawal from consumer credit agreement

   13. 14. In section 67 (cancellable agreements)— (a) at the beginning insert...

   14. 15. In section 82 (variation of agreements), after subsection (6) insert—...

   15. 16. Overdrafts etc

   16. 17. (1) Section 74 (exclusion of certain agreements from Part V)...

   17. 18. In section 127 (enforcement orders in cases of infringement) in...

   18. 19. (1) Section 189 (definitions), is amended as follows.

   19. 20. (1) Schedule 2, Part II (examples) is amended as follows....

   20. 21. Current account overdrafts

   21. 22. After section 74A (information to be provided on a current...

   22. 23. In section 77A (statements to be provided in relation to...

   23. 24. Charge cards

   24. 25. Linked credit agreements

   25. 26. Statement of account

   26. 27. Information on change of rate of interest and charges

   27. 28. In section 82 (variation of agreements), after subsection (1) insert—...

   28. 29. Early repayment

   29. 30. In section 94 (right to complete payments ahead of time)—...

   30. 31. In section 95 (rebate on early settlement), in subsection (1),...

   31. 32. After section 95 (rebate on early settlement) insert— Compensatory amount...

   32. 33. In section 97 (duty to give information)—

   33. 34. After section 97 (duty to give information) insert— Duty to...

   34. 35. In section 120 (consequence of failure to redeem), in subsection...

   35. 36. Assignment of rights

   36. 37. Open-end agreements

   37. 38. After section 98 (duty to give notice of termination), insert—...

   38. 39. In section 189 (definitions), in subsection (1) after the definition...

   39. 40. Database access

   40. 41. Credit intermediaries

   41. 42. In section 189 (definitions), in subsection (1) after the definition...

   42. 43. In Schedule 1 (prosecution and punishment of offences) after the...

   43. 44. Amount of credit in running-account agreement

   44. 45. In section 17 (small agreements), for subsection (2) substitute—

   45. 46. Enterprise Act 2002

4. PART 3 Amendments to secondary legislation

   1. 47. Consumer Credit (Notice of Variation of Agreements) Regulations 1977

   2. 48. In regulation 2 (notice valid for any variation in paragraph...

   3. 49. In regulation 3 (notice valid for special variation) before “where”...

   4. 50. Consumer Credit (Total Charge for Credit) Regulations 1980

   5. 51. Consumer Credit (Agreements) Regulations 1983

   6. 52. In regulation 1 (citation, commencement and interpretation)—

   7. 53. In regulation 8 (application of regulations), after paragraph (1), insert—...

   8. 54. In Schedule 1 (information to be contained in documents embodying...

   9. 55. In Schedule 2 (forms of statement of protection and remedies...

   10. 56. In Schedule 8 (information to be contained in documents embodying...

   11. 57. Consumer Credit (Payments Arising on Death) Regulations 1983

   12. 58. Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983

   13. 59. Consumer Credit (Settlement Information) Regulations 1983

   14. 60. In regulation 2 (form of statement), in paragraph (2), omit...

   15. 61. In regulation 3 (settlement date)— (a) in paragraph (2) omit...

   16. 62. In the Schedule (information to be contained in a statement...

   17. 63. Consumer Credit (Running-Account Credit Information) Regulations 1983

   18. 64. Consumer Credit (Exempt Agreements) Order 1989

   19. 65. In article 1 (citation, commencement, interpretation and revocation)—

   20. 66. In article 3 (exemption of certain consumer credit agreements by...

   21. 67. In article 4 (exemption of certain consumer credit agreements by...

   22. 68. Education (Student Loans) Regulations 1998

   23. 69. Enterprise Act 2002 (Part 8 Community Infringements Specified UK Laws) Order 2003

   24. 70. Consumer Credit (Advertisements) Regulations 2004

   25. 71. In regulation 1 (citation, commencement and interpretation)—

   26. 72. After regulation 1 insert— Application These Regulations apply to a credit advertisement in so far...

   27. 73. Consumer Credit (Disclosure of Information) Regulations 2004

   28. 74. In regulation 1 (citation, commencement and interpretation), in paragraph (2)...

   29. 75. For regulation 2 (agreements to which these Regulations apply) substitute—...

   30. 76. In regulation 3 (information to be disclosed to a debtor...

   31. 77. Consumer Credit (Early Settlement) Regulations 2004

   32. 78. In regulation 1 (citation, commencement and interpretation)—

   33. 79. In regulation 2 (entitlement to rebate)— (a) for paragraph (1)...

   34. 80. In regulation 3 (items included in the calculation of rebate)—...

   35. 81. In regulation 4 (calculation of the amount of the rebate)—...

   36. 82. After regulation 4 insert— Calculation of the amount of rebate...

   37. 83. In regulation 5 (settlement date)— (a) regulation 5 is renumbered...

   38. 84. Omit the Schedule.

   39. 85. Financial Services (Distance Marketing) Regulations 2004

   40. 86. In regulation 2 (interpretation), in paragraph (1)—

   41. 87. In regulation 7 (information required prior to the conclusion of...

   42. 88. In regulation 8 (written and additional information)—

   43. 89. In regulation 11 (exceptions to the right to cancel), at...

   44. 90. Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006

   45. 91. Education (Student Loans) (Scotland) Regulations 2007

   46. 92. Consumer Credit (Exempt Agreements) Order 2007

   47. 93. Graduate Endowment (Scotland) Regulations 2008

   48. 94. Cancellation of Contracts made in a Consumer’s Home or Place of Work etc. Regulations 2008

   49. 95. In regulation 6 (scope of application)— (a) at the end...

   50. 96. In regulation 11 (automatic cancellation of related credit agreement), in...

   51. 97. Payment Services Regulations 2009

   52. 98. Education (Student Loans) (Repayment) Regulations 2009

5. PART 4 Commencement, Transitional and Saving Provision

   1. 99. Commencement

   2. 100. Application of regulations to agreements entered into before 1st February 2011

   3. 101. Early application of regulations to certain agreements before 1st February 2011

   4. 102. Interpretation

6. Signature

7. Explanatory Note