CONSUMER CREDIT ACT, 1995

• (c) Intervals between dates used in the calculations shall be expressed in years or in fractions of a year. A year is presumed to have 365 days or 365,25 days or (for leap years) 366 days, 52 weeks or 12 equal months. An equal month is presumed to have 30,41666 days (i.e. 365/12).

• (d) The result of the calculation shall be expressed with an accuracy of at least one decimal place. When rounding to a particular decimal place the following rule shall apply:

If the figure at the decimal place following this particular decimal place is greater than or equal to 5, the figure at this particular decimal place shall be increased by one.

• (e) Member States shall provide that the methods of resolution applicable give a result equal to that of the examples presented in Annex III. ]

FIFTH SCHEDULE Notice to be Included in Hire-Purchase Agreement

Section 58.

Right of hirer to terminate agreement

• (a) (i) pay any instalments which are in arrear at the time when he gives notice, and

• (ii) if, when the hirer has paid those instalments, the total amount F234[which he has paid] under the agreement is less than (here insert the minimum amount the hirer is required to pay under section 63 (2) (a)) the hirer must also pay enough to make up that sum, or

• F235[(b) purchase the goods by paying the difference between the amount already paid under this agreement and either the hire-purchase price reduced in arrordance with section 52 or 53 of the Consumer Credit Act, 1995, or such lesser amount if specified in this agreement.]

Restriction of owner's right to recover goods

SIXTH SCHEDULE Record of Repayments

Section 100.

Form to be included in a repayment book in respect of a F236[high cost credit agreement].

SCHEDULE

SEVENTH SCHEDULE Consent to Collect Repayments Between the Hours of 8.00 a.m. and 10.00 a.m.

Section 110.

I [ OF ]1 HEREBY CONSENT TO [ ]2 OR AGENT COLLECTING REPAYMENTS BETWEEN THE HOURS OF 8.00 A.M. AND 10.00 A.M.

Signed:________

Date:________

I UNDERSTAND THAT I MAY CANCEL THIS CONSENT AT ANY TIME BY NOTIFYING THE LENDER EITHER BY USING THE CANCELLATION FORM BELOW OR BY WRITING TO THE LENDER OR HIS AGENT

Cancellation of Consent to Collect Repayments Between the Hours of 8.00 a.m. and 10.00 a.m.

TO [ ]²

I [ ]¹ HEREBY WITHDRAW THE CONSENT I HAVE GIVEN FOR REPAYMENTS TO BE COLLECTED BETWEEN THE HOURS OF 8.00 A.M. AND 10.00 A.M.

Signed:________

Date:________

EIGHTH SCHEDULE Amendment of Pawnbrokers Act, 1964

Section 154.

Part I

Part II

“SECOND SCHEDULE

Notice to be Exhibited in Every Pawnbrokers Premises Pawnbrokers Act, 1964

Interest on Loans

1. Interest shall be charged on any loan made under the Pawnbrokers Act, 1964, at the rate of pence in respect of every £1.00 lent for each month during which the pledge remains in pawn.

These charges are equivalent to an annual percentage rate of per cent.

Notes:

• (1) If the term of the loan is less than one month it will be charged for as one month.

• (2) After the first month, a part of a month exceeding 7 days will be charged for as a month and a part of a month not exceeding 7 days will not be charged for.

• (3) Where the loan is less than £1.00, it will be charged for as £1.00. Where it exceeds £1.00 or any even multiple of £1.00 any odd fraction of £1.00 will not be charged for.

2. for valuation fee on each £5 or part of £5 value put by pawnbroker on the pledge	pence.

Charge on Inspection of Sale Book and Auctioneer's Catalogue

3. for the inspection of the entry of a sale	Pence.

Charge on Form of Declaration

4. for a form of declaration	pence.

Redemption and Disposal of Pledges

1. (1) Pledges, other than those made up wholly or partly of gold, silver or other precious metal or of any precious or semi-precious stone must be redeemed within 6 months and 7 days from the date of pawning but, if the interest is paid at any time within the above period, the redemption period will be extended for a further period of 6 months and 7 days from the date up to which the interest is paid. Pledges made up wholly or partly of gold, silver or other precious metal or of any precious or semi-precious stone must be redeemed within one year and 7 days from the date of pledging. However, the period for redemption of any pledge in respect of which a special contract is made under section 15 (as amended by the Consumer Credit Act, 1995) of the Pawnbrokers Act, 1964, shall be 4 months or such longer period as may be specified in the special contract pawn ticket.

2. (2) At the end of the redemption period pledges may be sold by the pawnbroker by sale by public auction in the manner provided by law and not otherwise. A pledge may, however, be redeemed at any time before the day of sale.

Surplus on Sale of Pledge

1. Within 12 months after the sale by public auction of a pledge, the pawner may inspect the account of the sale in the pawnbroker's book and in the auctioneer's catalogue, on payment of a fee of 25 pence and receive any surplus produced by the sale. But a deficit on the sale of one pledge may, in certain circumstances, be set off against a surplus on another.

Damage to Pledge

1. (1) If a pledge is destroyed or damaged by fire, the pawnbroker, if the pawn-ticket is tendered to him before the expiry of the period within which the pledge would have been redeemable, will be bound to pay an amount equal to one-half of the amount of the loan.

2. (2) If a pledge, through default, neglect or wilful misbehaviour on the part of the pawnbroker, is lost, destroyed or is of less value at the time of redemption than it was at the time of pawning, the owner may apply to the District Court for compensation and the Court may, if it thinks fit, award compensation in respect of the damage, and the amount so awarded shall be deducted from the sum payable to the pawnbroker, or as the case may require, shall be paid by the pawnbroker in such manner as the Court may direct.

Pawnbrokers Act, 1964

Loss of Pawn Ticket

1. If a pawn ticket is lost, mislaid or stolen, the pawner should at once apply to the pawnbroker for a, form of declaration to be made before a Notary Public, a Commissioner for Oaths or a Peace Commissioner; otherwise the pawnbroker will be bound to deliver the pledge to any person who produces the pawn ticket to him and claims to redeem the pledge.

Part III

THIRD SCHEDULE

Pawn Tickets, etc.

Part I

Pawn Ticket

(The appropriate particulars are required to be entered by the pawnbroker in the respective blank spaces before signature.)

Pledge No.

Pawned with (name of pawnbroker)

of (address of pawnbroker)

this ______ day of, [month], [year],

by (name of pawner, as entered in the Pledge Book)

of (address of pawner, as entered in the Pledge Book)

(Description of pledge)

(Amount of the loan)

Terms of the special contract^*	^*To be printed on the front of the ticket or partly on the front and partly on the back.

1. The pawnbroker charges—

   • (a) For this ticket_

   • (b) Interest at the rate per month of (APR). (If the term of the loan is less than one month, it will be charged for as one month. After the first calendar month, a part of the month exceeding 7 days will be charged for as a month and a part of a month not exceeding 7 days will not be charged for).

   • (c) The charge for storage of this pledge will be __per month or any part of a month.

   • This pledge is pawned for the period of __ months.

   • After the expiration of that time the pledge may be sold by auction by the pawnbroker. But it may be redeemed by the pawner at any time before the day of sale.

   • Within 12 months after sale the pawner may, on payment of a fee of 25 pence, inspect the account of the sale in the pawnbroker's book and in the auctioneer's catalogue and receive any surplus produced by the sale. If, however, within 6 months before or after that sale, the sale of another pledge or pledges of the same person has resulted in a deficit the pawnbroker is entitled to set off the deficit against the surplus.

   • If a pledge, through default, neglect or wilful misbehaviour on the part of the pawnbroker, is lost, destroyed or is of less value at the time of redemption than it was at the time of pawning, the pawner may apply to the District Court for an order for compensation. The amount of compensation, if any, awarded shall be deducted from the sum payable to the pawnbroker or, as the case may require, shall be paid by the pawnbroker in such manner as the Court may direct.

   • If the pledge is destroyed or damaged by fire the pawnbroker, if the pawn ticket is tendered to him before the expiry of the period within which the pledge would have been redeemable, will be bound to pay an amount equal to one-half of the amount of the loan, unless otherwise agreed upon by the pawner and pawnbroker.

   • If this ticket is lost or mislaid the pawner should at once apply to the pawnbroker for a form of declaration; otherwise the pawnbroker will be bound to deliver the pledge to any person who produces this ticket to him and claims to redeem the pledge.

   Signed___Pawnbroker

   Signed___Pawner

   Part II

   Receipt

   	Date
   Received on redemption of Pledge No__	Received on redemption of Pledge No__	Received on redemption of Pledge No__
   		£
   Amount of Loan
   Interest
   Other Charges
   (to be specified)
   		______
   	Total:
   		______
   ___________	___________	___________
   	Pawnbroker”

Footnotes