The Consumer Credit (Miscellaneous Amendments) Regulations 2004

• Citation: S.I. 2004/2619
• Sections: 5

Section 1 Citation and Commencement

(1) These Regulations may be cited as the Consumer Credit (Miscellaneous Amendments) Regulations 2004.

(2) This regulation and regulations 2 and 3(1), (2) and (4) shall come into force on 31st October 2004 and all other regulations shall come into force on 31st May 2005.

Section 2 Amendment of the Consumer Credit (Agreements) (Amendment) Regulations 2004

(1) The Consumer Credit (Agreements) (Amendment) Regulations 2004 shall be amended as follows.

(2) In regulation 4 for paragraph (4)(c) (form and content of regulated consumer credit agreements) of the substituted regulation 2 substitute—

(c) under the heading “Key Financial Information”, the financial and related particulars set out in paragraphs 6 to 8B, 11 to 14 and 15 to 17 of Schedule 1 to these Regulations;

(3) After regulation 5(3) (form and content of regulated consumer hire agreements) insert—

(4) In paragraph 6 for the words “Forms 1 to 3” substitute “Forms 1, 4 and 5”

(4) For regulation 9(3) (modifying agreements which are, or are treated as, regulated agreements) substitute—

(3) For paragraph (4) substitute—

(4) Subject to paragraph (5) below and regulation 2(9), the information, statements of the protection and remedies, signature and separate boxes which under these Regulations must be contained in documents embodying modifying agreements varying or supplementing earlier credit agreements in relation to the credit being provided under the modifying agreement, shall be set out in the order given by paragraphs (a) to (f) below under, where applicable, the headings specified below—

(a) the nature of the agreement as set out in paragraph 1 of Part 1 of Schedule 8 to these Regulations;

(b) parties to the agreement as set out in paragraph 2 of Part 1 of Schedule 8 to these Regulations;

(c) under the heading “Key Financial Information”, the financial and related particulars set out in paragraphs 5 to 7B, 10 to 13 and 14 to 17 of Part 1 of Schedule 8 to these Regulations;

(d) under the heading “Other Financial Information”, the financial and related particulars set out in paragraphs 3, 4, 8, 9, 13A and 18 to 19A of Part 1 of Schedule 8 to these Regulations;

(e) under the heading “Key Information”—

(i) the information set out in paragraphs 20 to 24 of Part 1 of Schedule 8 to these Regulations; and

(ii) the statements of protection and remedies set out in Schedule 2 to these Regulations; and

(f) the signature box and, where applicable, separate box required by regulation 2(7)(b),

and such information, statements of protection and remedies, signature and separate boxes shall be shown together as a whole and shall not be preceded by any information apart from trade names, logos or the reference number of the agreement or interspersed with any other information or wording apart from subtotals of total amounts and cross references to the terms of the agreement.

(5) In regulation 10(8) for the new paragraph 23 substitute—

Cancellation rights

(6) In regulation 11 in Column 3 of the substituted Form 4—

(a) omit the words from “[However” to “disconnect and return the goods yourself.]**”; and

(b) omit the whole of note **.

(7) In regulation 11 in Column 2 of the substituted Form 5 for the words “3 or 6” substitute “4 or 6”.

(8) In regulation 11 in Column 3 of the substituted Form 18 for “£x****” in the first place where it appears substitute “£x***”.

Section 3 Amendment of the Consumer Credit (Advertisements) Regulations 2004

(1) The Consumer Credit (Advertisements) Regulations 2004 shall be amended as follows.

(2) In Schedule 2 (information to be contained in a credit advertisement) in the shoulder note for the words “and (6)” substitute “and (5)”.

(3) In Schedule 2 for paragraph 7 (total amount payable by the debtor) substitute—

(7) In the case of an advertisement relating to fixed-sum credit to be provided under a consumer credit agreement which is repayable at specified intervals or in specified amounts and other than cases under which the sum of the payments within sub-paragraphs (a) to (c) below is not greater than the cash price referred to in paragraph 3, the total amount payable by the debtor, being the total of—

(a) advance payments;

(b) the amount of credit repayable by the debtor, and

(c) the amount of the total charge for credit.

(4) In Schedule 3 (information to be contained in a hire advertisement)—

(a) in paragraph 5(2) for the word “debtor” substitute “hirer”;

(b) in paragraph 5(3)—

(i) for the word “creditor” substitute “owner”; and

(ii) for the word “debtor” substitute “hirer”.

Section 4 Amendment of the Consumer Credit (Early Settlement) Regulations 2004

In regulation 3(2)(d) (items included in the calculation of rebate) of the Consumer Credit (Early Settlement) Regulations 2004 omit the words from “, other than” to the end.

Section 5 Amendment of the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983

(1) The Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983 shall be amended as follows.

(2) In regulation 5 (Copies of cancellable unexecuted and executed agreements)—

(a) in paragraph (1) for the words “Forms 2 to 4” substitute “Forms 4 to 6” and for the words “Forms 2 and 3” substitute “Forms 4 and 5”; and

(b) in paragraph 2(a) for the words “Forms 2 to 4” substitute “Forms 4 to 6” and for the words “Forms 2 and 3” substitute “Forms 4 and 5”.

(3) For Part II of the Schedule substitute—

Forms of notice of cancellation rights to be included in copies of cancellable unexecuted or executed agreements given to the debtor or hirer under section 62 or 63(1) of the Act

(4) For Part III of the Schedule substitute—

Forms of notice of cancellation rights to be included in copies of cancellable executed agreements sent by post to the debtor or hirer under section 63(2) or (4) of the Act

(5) For Part VI of the Schedule substitute—

Forms of notice of cancellation rights to be sent by post to the debtor or hirer under section 64(1)(b) or (2) of the Act