# Consumer Credit Act 1974, Paragraph 1


The following section shall be inserted after section 7
“ Default under consumer credit agreements.
7A (1) Paragraph (1) of section 7 of this Act does not apply to a default relating to a bill of sale given by way of security for the payment of money under a regulated agreement to which section 87(1) of the Consumer Credit Act 1974 applies —
(a) unless the restriction imposed by section 88(2) of that Act has ceased to apply to the bill of sale ; or
(b) if, by virtue of section 89 of that Act, the default is to be treated as not having occurred.
(2) Where paragraph (1) of section 7 of this Act does apply in relation to a bill of sale such as is mentioned in subsection (1) of this section, the proviso to that section shall have effect with the substitution of “county court ” for “High Court ”.”

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Source: https://www.legislation.gov.uk/ukpga/1974/39/schedule/4./paragraph/1 (the official version)
Page: https://openlegislation.uk/consumer-credit-act-1974/schedule-4./paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.