Section 88 Exclusion of authorised institution’s agreements from Consumer Credit Act 1974.

United Kingdom

(1)

The Consumer Credit Act 1974 shall be amended as follows.

(2)

In section 16(1) (consumer credit agreements with certain bodies exempt from regulation) after paragraph (g) there shall be inserted

“, or
(h)
an authorised institution or wholly-owned subsidiary (within the meaning of the Companies Act 1985) of such an institution.”.

(3)

In section 16(3) (Secretary of State’s duty to consult before making orders) after paragraph (e) there shall be inserted

“or
(f)
under subsection (1)(h) without consulting the Treasury and the Bank of England.”.

(4)

In section 189(1) (definitions) after the definition of “association” there shall be inserted—

““authorised institution” means an institution authorised under the Banking Act 1987;”.

Notes on the whole Act

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)

Act continued (with modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9(1), Sch. 1 Pt. 1; S.I. 2001/3538 (as amended (1.4.2013) by S.I. 2013/472, arts. 1(1), 3, Sch. 2 para. 56(h)(i)); and specified provisions of Act applied, extended and amended (1.4.2003) so far as still in force by 2001 c. 16, ss. 50, 52-54, 57(1)(j)(4), 68, 138(2), Sch. 1 para. 43, Sch. 2 para. 16(2)(d); S.I. 2003/708, art. 2