Section 86F Interest on default sumsF1C1
This section applies where a default sum becomes payable under a regulated agreement by the debtor or hirer.
The debtor or hirer shall only be liable to pay interest in connection with the default sum if the interest is simple interest.
Annotations
Textual amendments
- F1
S. 86F inserted (1.10.2008) by Consumer Credit Act 2006 (c. 14), ss. {13}, 71(2) (with Sch. 3 para. 9); S.I. 2007/3300, art. 3(3), Sch. 3
Modifications
- C1
S. 86F excluded (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 12(7) (with art. 1(3))
Notes on Sums in arrears and default sums
Textual amendments
- F1
S. 86B and cross-heading inserted (16.6.2006 for certain purposes and otherwise 1.10.2008) by Consumer Credit Act 2006 (c. 14), ss. 9, 71(2) (with Sch. 3 para. 6); S.I. 2006/1508, art. 3(1), Sch. 1; S.I. 2007/3300, art. 3(3), Sch. 3