Introductory Text
Agreements regulated under the 1974 Act etc.
1.Definition of ‘individual’
2.Removal of financial limits etc.
3.Exemption relating to high net worth debtors and hirers
4.Exemption relating to businesses
5.Consequential amendments relating to ss. 1 to 4
Statements to be provided in relation to regulated credit agreements
6.Statements to be provided in relation to fixed-sum credit agreements
7.Further provision relating to statements
Default under regulated agreements
8.OFT to prepare information sheets on arrears and default
9.Notice of sums in arrears under fixed-sum credit agreements etc.
10.Notice of sums in arrears under running-account credit agreements
11.Failure to give notice of sums in arrears
12.Notice of default sums
13.Interest on default sums
14.Default notices
15.Enforceability of regulated agreements
16.Time orders
17.Interest payable on judgment debts etc.
18.Definition of “default sum”
Unfair relationships
19.Unfair relationships between creditors and debtors
20.Powers of court in relation to unfair relationships
21.Interpretation of ss. 140A and 140B of the 1974 Act
22.Further provision relating to unfair relationships
Businesses requiring a licence and consequences of not being licensed
23.Definitions of ‘consumer credit business’ and ‘consumer hire business’
24.Debt administration etc.
25.Credit information services
26.Enforcement of agreements by unlicensed trader etc.
Applications for licences and fitness to hold a licence etc.
27.Charge on applicants for licences etc.
28.Applications for standard licences
29.Issue of standard licences
30.Guidance on fitness test
31.Variation of standard licences etc.
32.Winding-up of standard licensee's business
33.Consequential amendments relating to ss. 27 to 32
Duration of licences and charges
34.Definite and indefinite licences
35.Charges for indefinite licences
36.Extension of period to pay charge for indefinite licence
37.Failure to pay charge for indefinite licence
Further powers of OFT to regulate conduct of licensees etc.
38.Power of OFT to impose requirements on licensees
39.Power of OFT to impose requirements on supervisory bodies
40.Supplementary provision relating to requirements
41.Procedure in relation to requirements
42.Guidance on requirements
43.Consequential amendments relating to requirements
Powers and duties in relation to information
44.Provision of information etc. by applicants
45.Duties to notify changes in information etc.
46.Power of OFT to require information generally
47.Power of OFT to require access to premises
48.Entry to premises under warrant
49.Failure to comply with information requirement
50.Officers of enforcement authorities other than OFT
51.Consequential amendments relating to information
Civil penalties
52.Power of OFT to impose civil penalties
53.Further provision relating to civil penalties
54.Statement of policy in relation to civil penalties
Appeals
55.The Consumer Credit Appeals Tribunal
56.Appeals to the Consumer Credit Appeals Tribunal
57.Appeals from the Consumer Credit Appeals Tribunal
58.Consequential amendments relating to appeals
Ombudsman scheme
59.Financial services ombudsman scheme to apply to consumer credit licensees
60.Funding of ombudsman scheme
61.Consequential amendments relating to ombudsman scheme
Miscellaneous
62.Monitoring of businesses by OFT
63.Disapplication of s.101 of the 1974 Act
64.Determinations etc. by OFT
65.Sums received by OFT
Final provisions
66.Financial provision
67.Interpretation
68.Consequential amendments
69.Transitional provision and savings
70.Repeals
71.Short title, commencement and extent
SCHEDULES
SCHEDULE 1
Schedule A1 to the 1974 Act
SCHEDULE 2
SCHEDULE 3
Transitional Provision and Savings
Interpretation
1.(1) Expressions used in the 1974 Act have the same...
Statements to be provided in relation to regulated agreements
2.(1) Section 77A of the 1974 Act applies in relation...
3.Regulations made under section 78(4A) of the 1974 Act may...
4.(1) Section 7(3) of this Act shall have effect in...
Default under regulated agreements
5.The OFT shall prepare, and give general notice of, the...
6.(1) Section 86B of the 1974 Act applies in relation...
7.(1) Section 86C of the 1974 Act applies in relation...
8.Section 86E of the 1974 Act applies in relation to...
9.(1) Section 86F of the 1974 Act applies in relation...
10.Section 14 of this Act shall have effect in relation...
11.The repeal by this Act of— (a) the words “(subject...
12.A debtor or hirer under an agreement may make an...
13.Section 130A of the 1974 Act applies in relation to...
Unfair relationships
14.(1) The court may make an order under section 140B...
15.(1) The repeal by this Act of sections 137 to...
16.(1) It is immaterial for the purposes of section 140C(4)(a)...
17.Section 1 of this Act shall have no effect for...
Applications for licences and fitness to hold a licence etc.
18.(1) Section 6A of the 1974 Act shall not apply...
19.(1) The OFT shall prepare and publish the guidance required...
Further powers of OFT to regulate conduct of licensees etc.
20.The cases in which the OFT may impose requirements under...
21.The cases in which the OFT may impose requirements under...
22.(1) The OFT shall prepare and publish the guidance required...
Powers and duties in relation to information
23.(1) Section 44 of this Act has no effect in...
24.A person is not required by section 36A of the...
Civil penalties
25.(1) The OFT shall prepare and publish the statement of...
Appeals
26.(1) A person who— (a) immediately before the commencement of...
27.(1) Neither— (a) subsections (1) and (2) of section 56...
28.Neither subsection (1) nor (4)(a) of section 58 of this...
Ombudsman scheme
29.Section 1 of this Act shall have no effect for...
SCHEDULE 4
Repeals