Part V Entry into Credit or Hire Agreements
Exclusion of certain agreements from Part V
74 Exclusion of certain agreements from Part V.
1
This Part (except section 56) does not apply to—
a
a non-commercial agreement, or
b
a debtor-creditor agreement enabling the debtor to overdraw on a current account, or
c
a debtor-creditor agreement to finance the making of such payments arising on, or connected with, the death of a person as may be prescribed.
2
This Part (except sections 55 and 56) does not apply to a small debtor-creditor-supplier agreement for restricted-use credit.
F12A
In the case of an agreement to which the F2Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008 apply the reference in subsection (2) to a small agreement shall be construed as if in section 17(1)(a) and (b) “£35 ” were substituted for “£50 ”.
3
Subsection (1)(b) or (c) applies only where the F3OFT so determines, and such a determination—
a
may be made subject to such conditions as the F3OFT thinks fit, and
b
shall be made only if the F3OFT is of the opinion that it is not against the interests of debtors.
F43A
Notwithstanding anything in subsection (3)(b) above, in relation to a debtor-creditor agreement under which the creditor is the Bank of England or a bank within the meaning of the Bankers’ Books Evidence Act 1879, the F3OFT shall make a determination that subsection (1)(b) above applies unless F6it considers that it would be against the public interest to do so