# The Consumer Credit (Agreements) Regulations 1983, Regulation 1: Citation, commencement and interpretation

Extent: E+W+S+N.I.

(1) These Regulations may be cited as the Consumer Credit (Agreements) Regulations 1983 and shall come into operation on 19th May 1985.
(2) In these Regulations, unless the context otherwise requires—
“the Act” means the Consumer Credit Act 1974;
“advance payment” includes any deposit and in relation to a regulated consumer credit agreement includes also any part-exchange allowance in respect of any goods agreed in antecedent negotiations to be taken by the creditor in part-exchange but does not include a repayment of credit or any insurance premium or any amount entering into the total charge for credit;
“the APR” means the annual percentage rate of charge for credit determined in accordance with the total charge for credit rules and Schedule 7 to these Regulations and, in the case of modifying agreements, Regulation 7 of, and Part I of Schedule 8 to, these Regulations;
“cancellable agreement” includes an agreement which is a modifying agreement treated under section 82(5) of the Act as a cancellable agreement;
“cash price” in relation to any goods, services, land or other things means the price or charge at which the goods, services, land or other things may be purchased by, or supplied to, the debtor for cash;
“contract of shortfall insurance” means anything in writing which contains or purports to contain some promise or assurance (however worded or presented) that if a sum payable under a contract of insurance against loss of or damage to goods is less than the amount necessary to defray—
(a)any amount of credit provided to finance the purchase of those goods; and
(b)any other amount included in the total charge for that credit,
to the extent that these remain unpaid at the date of the loss or damage, a sum up to but not exceeding that shortfall will be paid;
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“earlier credit agreement” means an earlier agreement for the provision of credit;
“earlier hire agreement” means an earlier agreement for the bailment or the hiring of goods;
“guarantee of goods” means anything in writing which contains or purports to contain some promise or assurance (however worded or presented) that defects in goods will be made good by complete or partial replacement, or by repair, monetary compensation or otherwise;
“hire payment” means any payment to be made by the hirer in relation to any period in consideration of the bailment or hiring to him of goods under a regulated consumer hire agreement;
“lettering” includes figures and symbols;
“modified agreement” means an earlier agreement as varied or supplemented by a modifying agreement, which is treated as—
(a)revoking the earlier agreement, and
(b)containing provisions reproducing the combined effect of the two agreements;
“the relevant date” means—
(a)where a date is specified in or determinable under an agreement at the date of its making as that on which the debtor is entitled to require the provision of anything under the agreement, the earliest such date, or
(b)where no such date is specified or determinable, the date of the making of the agreement;
“total charge for credit” shall be determined in accordance with the total charge for credit rules and Schedule 7 to these Regulations and, in the case of modifying agreements, Regulation 7 of, and Part I of Schedule 8 to, these Regulations; and
“the total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order.
(2A) References in these Regulations to contracts of insurance must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.
(3) In these Regulations, any reference to a repayment is a reference to—
(a) a repayment of the whole or any part of the credit;
(b) a payment of the whole or any part of the total charge for credit; or
(c) a combination of such repayments and payments.

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Source: https://www.legislation.gov.uk/uksi/1983/1553/regulation/1 (the official version)
Page: https://openlegislation.uk/consumer-credit-agreements-regulations-1983/regulation-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.