Regulation 3 Form and content of regulated consumer credit agreements
Documents embodying a regulated consumer credit agreement shall contain the information set out in column 2 of Schedule 1 to these Regulations in so far as that information relates to the type of agreement referred to in column 1.
The information specified in Schedule 1 shall be presented in a clear and concise manner.
For the purposes of this regulation, the requirement for the information to be “clear” includes a requirement that the wording, apart from any signature, is to be easily legible and of a colour which is readily distinguishable from the background medium upon which the information is displayed.
Documents embodying a regulated consumer credit agreement, other than an exempted agreement, shall contain statements of the protection and remedies available to debtors under the Act, in the Form numbered in column 1 of Schedule 2 to these Regulations and set out in column 3, in so far as those statements relate to the type of agreement referred to in column 2.
Documents embodying a regulated consumer credit agreement shall contain details of any security provided in relation to the regulated agreement by the debtor.
Paragraph (7) applies to documents embodying a debtor-creditor-supplier agreement falling within section 12(a) of the Act or a debtor-creditor agreement (in this paragraph and paragraph (7) referred to as “the principal agreement”) and also embodying, or containing the option of, a debtor-creditor-supplier agreement falling within section 12(b) of the Act (in this paragraph referred to as “the subsidiary agreement”) where the subsidiary agreement is to finance a premium under one or more of—
a contract of insurance to provide a sum payable in the event of the death of a debtor or a debtor suffering one or more of the following—
accident;
sickness;
unemployment,
at any time before the credit under the principal agreement and the subsidiary agreement has been repaid, where
the sum payable does not exceed the amount sufficient to defray the sums payable to the creditor in respect of that credit and of the total charge for credit, and
the policy monies payable under the contract of insurance are to be used for a repayment under the principal agreement and the subsidiary agreement;
a contract of shortfall insurance;
a contract of insurance in so far as it relates to the guarantee of goods.
Documents to which this regulation applies may contain instead of the headings specified in paragraph 1 of Schedule 1 to these Regulations and any applicable statements of protection and remedies available to debtors under the Act that would otherwise apply—
a heading in so far as it relates to the principal agreement, and
if applicable, statements of the protection and remedies available to debtors under the Act in so far as they relate to the principal agreement.