Consumer Credit Act 1974

43 Advertisements to which Part IV applies. U.K.

(1) This Part applies to any advertisement, published for the purposes of a business carried on by the advertiser, indicating that he is willing—

(a) to provide credit, or

(b) to enter into an agreement for the bailment or (in Scotland) the hiring of goods by him.

(2) An advertisement does not fall within subsection (1) if the advertiser does not carry on—

(a) a consumer credit business or consumer hire business, or

(b) a business in the course of which he provides credit to individuals secured on land, or

(c) a business which comprises or relates to unregulated agreements where—

(i) the [F1 law applicable to] the agreement is the law of a country outside the United Kingdom, and

(ii) if the [F1 law applicable to] the agreement were the law of a part of the United Kingdom it would be a regulated agreement.

(3) An advertisement does not fall within subsection (1)(a) if it indicates—

(a) that the credit must exceed [F2 £15,000], and that no security is required, or the security is to consist of property other than land, or

(b) that the credit is available only to a body corporate.

[F3 (3A) An advertisement does not fall within subsection (1)(a) in so far as it is a communication of an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000, other than an exempt generic communication.

F3 (3B) An “exempt generic communication ” is a communication to which subsection (1) of section 21 of the Financial Services and Markets Act 2000 does not apply, as a result of an order under subsection (5) of that section, because it does not identify a person as providing an investment or as carrying on an activity to which the communication relates.]

(4) An advertisement does not fall within subsection (1)(b) if it indicates that the advertiser is not willing to enter into a consumer hire agreement.

(5) The Secretary of State may by order provide that this Part shall not apply to other advertisements of a description specified in the order.

Textual Amendments

F1 Words in s. 43(2)(c) substituted (1.4.1991) by Contracts (Applicable Law) Act 1990 (c. 36, SIF 30), s. 5, Sch. 4 para. 2; S.I. 1991/707, art. 2

F2 "£15,000" substituted by S.I. 1983/1878, art. 4, Sch. Pt. II

F3 S. 43(3A)(3B) inserted (1.9.2002) by S.I. 2001/544, arts. 2, 90(3); S.I. 2001/3538, art. 2