Consumer Credit (Agreements) Regulations 1983
| Jurisdiction | UK Non-devolved |
| Citation | SI 1983/1553 |
1983 No. 1553
CONSUMER CREDIT
The Consumer Credit (Agreements) Regulations 1983
Made 24th October 1983
Laid before Parliament 3rd November 1983
Coming into Operation 19th May 1985
The Secretary of State, in exercise of the powers conferred on him by sections 60, 61(1)(a), 105(9), 114(1), 127(3), 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:—
Citation, commencement and interpretation
1.—(1) These Regulations may be cited as the Consumer Credit (Agreements) Regulations 1983 and shall come into operation on 19th May 1985.
(2) In these Regulations, unless the context otherwise requires—
“” means ;
“” ;
“” means ;
“” ;
“” in relation to any goods, services, land or other things means ;
“” means ;
“” means ;
“” means ;
“” ;
“” means an earlier agreement as varied or supplemented by a modifying agreement, which is treated as—
(a) revoking the earlier agreement, and
(b) containing provisions reproducing the combined effect of the two agreements
;
“” shall be determined in accordance with the Total Charge for Credit Regulations and, in the case of modifying agreements, Regulation 7(7) below;
“” ; and
“” means .
(3) In these Regulations, any reference to a repayment is a reference to—
(a)
(a) a repayment of the whole or any part of the credit;
(b)
(b) a payment of the whole or any part of the total charge for credit; or
(c)
(c) a combination of such repayments and payments.
Form and content of regulated consumer credit agreements
2.—(1) Subject to paragraph (2) below, documents embodying regulated consumer credit agreements (other than modifying agreements) shall contain the information set out in Column 2 of Schedule 1 to these Regulations in so far as it relates to the type of agreement referred to in Column 1.
(2) Where any information about financial and related particulars set out in paragraphs 9 to 11 of Schedule 1 to these Regulations cannot be exactly ascertained by the creditor, estimated information based on such assumptions as the creditor may reasonably make in all the circumstances of the case and an indication of the assumptions made shall be included in documents embodying regulated consumer credit agreements.
(3) Documents embodying regulated consumer credit agreements shall contain statements of the protection and remedies available to debtors under the Act, in the Form numbered in Column 1 of Part I of Schedule 2 to these Regulations and set out in Column 3, in so far as they relate to the type of agreement referred to in Column 2.
(4) Subject to paragraph (5) below, the information about financial and related particulars set out in paragraphs 3 to 19 of Schedule 1 to these Regulations, and also the statements of the protection and remedies available to debtors under the Act specified in Forms 5 to 10 of Part I of Schedule 2, shall be shown together as a whole in documents embodying regulated consumer credit agreements and not interspersed with other information apart from subtotals of total amounts and cross-references to terms of the agreement:
Provided that the said statements specified in Forms 5 to 10 of Part I of Schedule 2 need not be shown together as a whole with the said information about financial and related particulars, if a reference to those statements is shown together with the said information about financial and related particulars.
(5) In the case of documents embodying restricted-use debtor-creditor-supplier agreements for fixed-sum credit to finance a transaction comprising the acquisition of goods, services, land or other things specified in the agreement or identified and agreed on at the time the agreement is made and relating to more than one description of goods, services, land or other things, the cash prices, and the total cash price, referred to in paragraph 4 of Schedule 1 to these Regulations may be shown in a schedule to such document together with each description of the goods, services, land or other things, provided that the total cash price and a reference to the schedule to such document are shown together with the remaining financial and related particulars specified in paragraphs 5 to 19 of Schedule 1.
(6) The APR referred to in paragraphs 15 to 17 of Schedule 1 to these Regulations shall in documents embodying regulated consumer credit agreements—
(a)
(a) be denoted as “APR” or “annual percentage rate” or “annual percentage rate of the total charge for credit”; and
(b)
(b) be afforded no less prominence than any of the other financial and related particulars referred to in paragraphs 3 to 19 of Schedule 1 and the statements specified in Forms 5 to 10 of Part I of Schedule 2.
(7) Documents embodying regulated consumer credit agreements shall contain a signature box in the Form numbered in Column 1 of Part I of Schedule 5 to these Regulations and set out in Column 3 in so far as it relates to the type of agreement referred to in Column 2 and shall, if the agreement is one to which section 58(1) of the Act applies, is a cancellable agreement or is an agreement under which a person takes any article in pawn and under which the pawn-receipt is not separate from the document embodying the agreement, contain a separate box immediately above, below or adjacent to the signature box in which shall be included the appropriate statements specified in Forms 1 to 4 of Part I, and in Part II, of Schedule 2.
(8) Documents embodying regulated consumer credit agreements shall embody any security provided in relation to the regulated agreement by the debtor.
Form and content of regulated consumer hire agreements
3.—(1) Subject to paragraph (2) below, documents embodying regulated consumer hire agreements (other than modifying agreements) shall contain the information set out in Column 2 of Schedule 3 to these Regulations in so far as it relates to the type of agreement referred to in Column 1.
(2) Where any information about financial and related particulars set out in paragraphs 5 and 6 of Schedule 3 to these Regulations cannot be exactly ascertained by the owner, estimated information based on such assumptions as the owner may reasonably make in all the circumstances of the case and an indication of the assumptions made shall be included in documents embodying regulated consumer hire agreements.
(3) Documents embodying regulated consumer hire agreements shall contain statements of the protection and remedies available to hirers under the Act, in the Form numbered in Column 1 of Schedule 4 to these Regulations and set out in Column 3, in so far as they relate to the type of agreement referred to in Column 2.
(4) Subject to paragraph (5) below, the information about financial and related particulars set out in paragraphs 3 to 8 of Schedule 3 to these Regulations shall be shown together as a whole in documents embodying regulated consumer hire agreements and not interspersed with other information apart from subtotals of total amounts and cross-references to terms of the agreement.
(5) In the case of documents embodying consumer hire agreements relating to more than one description of goods to be bailed or hired under the agreement, the list or other description of the goods referred to in paragraph 3 of Schedule 3 to these Regulations may be shown in a schedule to such document, provided that a reference to the schedule to such document is shown together with the remaining financial and related particulars specified in paragraphs 4 to 8 of Schedule 3.
(6) Documents embodying regulated consumer hire agreements shall contain a signature box in the Form numbered in Column 1 of Part II of Schedule 5 to these Regulations and set out in Column 3, in so far as it relates to the type of agreement referred to in Column 2 and shall, if the agreement is one to which section 58(1) of the Act applies or is a cancellable agreement, contain a separate box immediately above, below or adjacent to the signature box in which shall be included the appropriate statements specified in Forms 1 to 3 of Schedule 4.
(7) Documents embodying regulated consumer hire agreements shall embody any security provided in relation to the regulated agreement by the hirer.
Pawn-receipts
4. Where a pawn-receipt is given under section 114(1) of the Act, by a person who takes any article in pawn under a regulated consumer credit agreement or a modifying agreement varying or supplementing an earlier credit agreement which is, or is treated under section 82(3) of the Act as, a regulated agreement, and where the pawn-receipt is not separate from any document embodying such an agreement, it shall—
(a) contain the information set out in paragraphs 1, 2 and 20 of Schedule 1 to these Regulations, or, in the case of a modifying agreement varying or supplementing an earlier credit agreement, in paragraphs 1 , 2 and 20 of Part I of Schedule 8; and
(b) contain a notice in the Form numbered 16 in Column 1 of Part II of Schedule 2 to these Regulations and set out in Column 3.
Statutory Forms
5.—(1) The wording of any Form specified in Schedule 2, 4 and 5 to these Regulations shall be reproduced in documents embodying regulated agreements without any alteration or addition, except that—
(a)
(a) the words “the creditor” or “the owner” may be replaced by the name of the creditor or owner, by the expression by which the creditor or owner is referred to in the agreement or by an appropriate pronoun, and any consequential changes to pronouns and verbs or other consequential grammatical changes may be made;
(b)
(b) the word may be replaced by or and the word may be replaced by or ; and
(c)
(c) every Form shall be completed in accordance with any footnote.
(2) Any such footnote shall not be treated as part of any Form...
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