Consumer Credit (Negotiable Instruments) (Exemption) Order 1984

JurisdictionUK Non-devolved
CitationSI 1984/435

1984No. 435

CONSUMER CREDIT

The Consumer Credit (Negotiable Instruments) (Exemption) Order 1984

26thMarch1984

3rdApril1984

19thMay1985

The Secretary of State, in exercise of the powers conferred on him by sections 123(6) and 182(2) of the Consumer Credit Act 1974(a) and of all other powers enabling him in that behalf, hereby makes the following Order:—

1. This Order may be cited as the Consumer Credit (Negotiable Instruments) (Exemption) Order 1984 and shall come into operation on 19th May 1985.

2. Section 123 of the Consumer Credit Act 1974 (which places restrictions on the taking and negotiating of negotiable instruments by creditors and owners in relation to regulated agreements) shall not apply in the case of a consumer hire agreement where it is made in connection with trade in goods between the United Kingdom and a country outside the United Kingdom or within a country or between countries outside the United Kingdom, being an agreement under which goods are bailed or (in Scotland) hired to the hirer in the course of a business carried on by him.

Alexander Fletcher, Parliamentary Under-Secretary of State, Department of Trade and Industry.

26th March 1984.

(a) 1974 c. 39.

EXPLANATORY NOTE

(This Note is not part of the Order.)

Section 123 of the Consumer Credit Act 1974 places restrictions on the taking and negotiating of negotiable instruments by creditors and owners in relation to agreements regulated by the Act.

This Order excludes from the application of the section consumer hire agreements which have a connection with a country outside the United Kingdom, but only if the goods are hired in the course of the hirer's business.

The section does not apply to non-commercial agreements as defined in the Act. Consumer...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT