12.—(1) Schedule 3 (information to be contained in documents embodying regulated consumer hire agreements other than modifying agreements) shall be amended as follows.
(2) For paragraph 1 substitute—
| “Nature of agreement | ||
|---|---|---|
| 1. | All types. | (1) A heading in the following form of words—“Hire Agreement regulated by the Consumer Credit Act 1974”. (2) Where the agreement to hire is being secured on land the words “secured on” and the address of the land shall be inserted at the end of the heading.”. |
(3) For paragraph 10 substitute—
| “Charges | ||
|---|---|---|
| 10. | All types. | (1) A list of any charges payable under the agreement to the owner upon failure by the hirer or a relative of his to do or refrain from doing anything which he is required to do or refrain from doing, as the case may be. (2) A statement indicating any term of the agreement which provides for charges not required to be shown under (1) above.” |
(4) After paragraph 10 insert—
| “Cancellation rights | ||
|---|---|---|
| 11. | Agreements that are not cancellable agreements. | A statement that the agreement is not cancellable.”. |