SCHEDULE
INCREASES OF MONETARY LIMITS IN CONSUMER CREDIT ACT 1974
PART IArticle 3
INCREASES COMING INTO OPERATION ON 1ST JANUARY 1984
Section of the Act |
Short Description |
Present Limit |
New Limit |
(1) |
(2) |
(3) |
(4) |
17(1)(a) and (b) |
Upper limit for small agreement |
£30 |
£50 |
75(3)(b) |
Lower exemption limit for cash price of goods or services to which liability of creditor for breaches by supplier applies |
£30 |
£100 |
PART IIArticle 4
INCREASES COMING INTO OPERATION ON 20TH MAY 1985
Section of the Act |
Short Description |
Present Limit |
New Limit |
(1) |
(2) |
(3) |
(4) |
8(2) |
Upper limit for regulated consumer credit agreement |
£5,000 |
£15,000 |
15(1)(c) |
Upper limit for regulated consumer hire agreement |
£5,000 |
£15,000 |
43(3)(a) |
Exemption limit for certain credit advertisements |
£5,000 |
£15,000 |
75(3)(b) |
Upper exemption limit for cash price of goods or services to which liability of creditor for breaches by supplier applies |
£10,000 |
£30,000 |
