The Consumer Credit (Information Requirements and Duration of Licences and Charges) Regulations 2007

Transitional provisions

This section has no associated Explanatory Memorandum

50.—(1) Subject to paragraph (2), where a notice of sums in arrears is given pursuant to section 86B of the 1974 Act in relation to a regulated agreement for fixed-sum credit or a regulated consumer hire agreement made before 1 October 2008 the notice may contain pre-commencement information.

(2) Where pre-commencement information is included in a notice to which section 86(B)(2)(b) applies it may be aggregated with the sum required to be included in the notice under paragraph 7 of Schedule 3.

(3) For the purposes of this regulation, “pre-commencement information” means any sum which—

(a)became due before 1 October 2008;

(b)the debtor or hirer failed to pay in full when it became due under the agreement; and

(c)remains unpaid at the date the duty to give the notice arose.