The Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 1984

Made: 25th July 1984

Laid before Parliament: 30th July 1984

Coming into Operation: 19th May 1985

The Secretary of State, in exercise of the powers conferred on him by sections 88(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 (Enforcement, Default and Termination Notices) (Amendment) Regulations 1984 and shall come into operation on 19th May 1985.

2

The Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983 are hereby amended in paragraph 7 of Schedule 2 by substituting for the words “In the case of a regulated hire-purchase or conditional sale agreement relating to goods, where the property in the goods remains in the creditor, a statement in the following form—” the following words:—

(7) In the case of a hire-purchase or conditional sale agreement relating to goods, (a) made on or after 19th May 1985, where the property in the goods remains in the creditor; or (b) made before 19th May 1985, where the debtor has not himself put an end to the agreement by virtue of any right vested in him and where the total amount payable under the agreement does not exceed £7,500, a statement in the following form—

Signed

Alexander Fletcher — Parliamentary Under-Secretary of State — Department of Trade and Industry — 25th July 1984

Explanatory note

EXPLANATORY NOTE

These Regulations amend paragraph 7 of Schedule 2 to the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983.

The Regulations make it clear that the statement is only to be included in new hire-purchase or conditional sale agreements relating to goods, which are regulated under the Consumer Credit Act 1974, or existing agreements controlled by the Hire-Purchase Acts.