The Consumer Credit (Notice of Variation of Agreements) (Amendment) Regulations 1979

Statutory Instruments

1979 No. 661

CONSUMER CREDIT

The Consumer Credit (Notice of Variation of Agreements) (Amendment) Regulations 1979

Made

14th June 1979

Laid before Parliament

15th June 1979

Coming into Operation

18th June 1979

The Secretary of State, in exercise of his powers under sections 82(1), 182(2) and 189(1) of the Consumer Credit Act 1974, and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

1.  These Regulations may be cited as the Consumer Credit (Notice of Variation of Agreements) (Amendment) Regulations 1979 and shall come into operation on 18th June 1979.

2.  The Consumer Credit (Notice of Variation of Agreements) Regulations 1977 are hereby amended by the addition after regulation 3 of the following article—

   

“4.— (1) This regulation applies to a variation of a regulated consumer hire agreement where the variation is a variation of the amount of any sum payable under the agreement and—

(a) is of no greater amount than any increase in the amount of value added tax chargeable on the supply to which the payment relates, or

(b) is of the amount of any decrease in that amount of value added tax.

(2) In the case of a variation to which this regulation applies, the requirements of regulation 2(b) above shall be treated as satisfied where, before the variation takes effect,—

(a) the notice of variation is served on the hirer; or

(b) the notice of variation is prominently displayed so that it may easily be read in the part of the premises of the owner where the debtor or a person on his behalf ordinarily makes payments under the agreement in person.”

   

Sally Oppenheim

Minister of State

Department of Trade

14th June 1979

EXPLANATORY NOTE

The Consumer Credit (Notice of Variation of Agreements) Regulations 1977 (which prescribe the manner in which notice is to be given to the hirer of a variation of a consumer hire agreement under a power contained in the agreement before such variation can take effect) require that notice of variation must be given by serving a notice setting out the variation to the hirer seven days before the variation takes effect. These Regulations make special provision where the variation relates solely to certain changes in value added tax.