The Consumer Credit (Advertisements) Regulations 2010

Transitional provisions

12.—(1) Subject to paragraph (2), a person shall not be guilty of an offence under section 47(1)(1) or 167 of the Act for contravention of these Regulations in respect of a credit advertisement that would have complied with the requirements of the 2004 Regulations had those Regulations not been disapplied in relation to a consumer credit agreement not secured on land by virtue of regulation 72 of the Consumer Credit (EU Directive) Regulations 2010(2).

(2) Paragraph (1) only applies to—

(a) credit advertisements published in a catalogue, diary or work of reference comprising at least 50 printed pages—

(i) copies of which are first published, or made available for publication in the ordinary course of business before 1st March 2011, and

(ii) which, in a reasonably prominent position either contains the date of its first publication or specifies a period, being a calendar or seasonal period, throughout which it is intended to have effect;

(b) other credit advertisements—

(i) which are first published before 1st February 2011, and

(ii) which cease to be published before 1st March 2011.

(1)

Section 47(1) was amended by regulation 30 of and Schedule 4 to the Consumer Protection from Unfair Trading Regulations 2008 (S.I. 2008/1277).

(2)

S.I. 2010/1010.