Variation of consumer credit regulated agreements
This section has no associated Explanatory Memorandum
2.—(1) Section 82 of the Consumer Credit Act 1974(1) (variation of agreements) is amended as follows.
(2) After subsection (2) insert—
“(2A) Subsection (2) does not apply if the modifying agreement is an exempt agreement as a result of section 16(6C).”.
(3) In subsection (3) for the words from “unless” to “regulated agreement” substitute—
“unless the modifying agreement is—
(a)for running account credit; or
(b)an exempt agreement as a result of section 16(6C),
it shall be treated as a regulated agreement.”.
(4) After subsection (5) insert—
“(5A) Subsection (5) does not apply where the modifying agreement is an exempt agreement as a result of section 16(6C).”.
(1)