The Consumer Protection (Cancellation of Contracts Concluded away from Business Premises) (Amendment) Regulations 1988

• Citation: S.I. 1988/958
• Sections: 2

Section 1

These Regulations may be cited as the Consumer Protection (Cancellation of Contracts Concluded away from Business Premises) (Amendment) Regulations 1988 and shall come into force on 1st July 1988.

Section 2

The Consumer Protection (Cancellation of Contracts Concluded away from Business Premises) Regulations 1987 are hereby amended in regulation 6 by substituting for paragraph (6) the following:—

(6) In this regulation, the following expressions have the meanings hereby assigned to them:—

“cash” includes money in any form;

“credit” means a cash loan and any facility enabling the consumer to overdraw on a current account;

“current account” means an account under which the customer may, by means of cheques or similar orders payable to himself or to any other person, obtain or have the use of money held or made available by the person with whom the account is kept and which records alterations in the financial relationship between the said person and the customer; and

“repayment”, in relation to credit, means the repayment of money—

paid to a consumer before the cancellation of the contract; or

to the extent that he has overdrawn on his current account before the cancellation.