The Consumer Credit (Total Charge for Credit and Rebate on Early Settlement) (Amendment) Regulations 1989

• Citation: S.I. 1989/596
• Sections: 3

Section 1

These Regulations may be cited as the Consumer Credit (Total Charge for Credit and Rebate on Early Settlement) (Amendment) Regulations 1989 and shall come into force on 30th June 1989.

Section 2

The Consumer Credit (Total Charge for Credit) Regulations 1980 are hereby amended–

(a) in regulation 1(2), in the definition of “transaction”, by inserting after the words “any contract for the provision of security relating to the agreement” the words “, any credit brokerage contract relating to the agreement”; and

(b) in regulation 5(1)(d), by inserting, after the words “any charge”, the words “(other than a fee or commission charged by a credit-broker)”.

Section 3

The Consumer Credit (Rebate on Early Settlement) Regulations 1983 are hereby amended in regulation 3(2) by adding after subparagraph (c) the following–

(d) any fee or commission paid by the debtor or a relative of his under a credit brokerage contract relating to the agreement.