The Consumer Credit Act 1974 (Commencement No. 10) Order 1989

Made: 5th July 1989

The Secretary of State, in exercise of the powers conferred on him by sections 182(2) and (4) and 192(2) of the Consumer Credit Act 1974[^f00001] and of all other powers enabling him in that behalf, hereby makes the following Order:

Citation and interpretation

1

• (1) This Order may be cited as the Consumer Credit Act 1974 (Commencement No. 10) Order 1989.

• (2) In this Order,“the Act” means the Consumer Credit Act 1974.

Appointment of day

2

For the purposes of paragraph 5 of Schedule 3 to the Act, the appointed day shall be 31st July 1989 in the case of any consumer credit business which is carried on by an individual and in the course of which only the following regulated consumer credit agreements (excluding agreements made before that date) are made, namely–

• (a) agreements for fixed-sum credit not exceeding £30, and

• (b) agreements for running-account credit where the credit limit does not exceed that amount.

Amendment of Schedule 3 to the Act

3

The Schedule to this Order shall have effect for the purpose of further amending paragraph 5 of Schedule 3 to the Act (which makes certain transitional provisions in relation to the licensing of consumer credit and consumer hire businesses) as amended by article 3(1) of the Consumer Credit Act 1974 (Commencement No. 2) Order 1977[^f00002], and accordingly the said article 3(1), so far as it relates to the said paragraph 5, shall cease to have effect.

SCHEDULE — AMENDMENT OF SCHEDULE 3 TO THE ACT

There shall be substituted for paragraph 5 the following:

(5) (1) Section 21 does not apply to the carrying on of any description of consumer credit business or consumer hire business– (a) before 31st July 1989 in the case of a consumer credit business which is carried on by an individual and in the course of which only the following regulated consumer credit agreements (excluding agreements made before that date) are made, namely– (i) agreements for fixed-sum credit not exceeding £30, and (ii) agreements for running-account credit where the credit limit does not exceed that amount; (b) before 1st October 1977 in the case of any other description of consumer credit business; and (c) before 1st October 1977 in the case of any consumer hire business. (2) Where the person carrying on a consumer credit business or a consumer hire business applies for a licence– (a) before 31st July 1989 in the case of a consumer credit business to which sub-paragraph (1)(a) above applies, or (b) before 1st October 1977 in the case of any other description of consumer credit business or in the case of any consumer hire business, he shall be deemed to have been granted on 31st July 1989 or 1st October 1977, as the case may be, a licence covering that business and continuing in force until the licence applied for is granted or, if the application is refused, until the end of the appeal period.

Signed

Francis Maude — Parliamentary Under-Secretary of State, — Department of Trade and Industry — 5th July 1989

Explanatory note

(This note is not part of the Order)

This Order brings into force on 31st July 1989 certain provisions of the Consumer Credit Act 1974 relating to licensing requirements for consumer credit businesses carried on by individuals and which only do business resulting in the making of certain regulated agreements for credit not exceeding £30. These businesses were excluded from the commencement provisions of the Consumer Credit Act 1974 (Commencement No. 2) Order 1977.

Article 3 introduces consequential and transitional amendments to the 1974 Act.

Footnotes

[^f00001]: 1974 c. 39.

[^f00002]: S.I. 1977/325.