# The Consumer Credit (Credit-Token Agreements) Regulations 1983, Note: Explanatory note

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

These Regulations prescribe the manner in which the particulars specified in section 84(4) of the Consumer Credit Act 1974 have to be contained in those credit-token agreements which make debtors liable for loss to the creditor resulting from the misuse of credit-tokens by other persons. The particulars in question are of the name, address and telephone number of a person to whom notice is to be given under section 84(3) of the Act. Under the Regulations these particulars have to be prominent and easily legible.
By virtue of paragraph 20(3) of Schedule 3 to the Act, section 84 applies to existing agreements where the agreement would have been a credit-token agreement if made on the date of coming into operation of that section. Similarly these Regulations will apply to such agreements made before 19th May 1985 (Regulation 3). In such cases, the particulars have to be easily legible but do not need to be shown prominently. However, by virtue of paragraph 20(5) of Schedule 3 to the Act, an existing agreement which does not already contain the required particulars in the prescribed manner at that date can still be taken to satisfy section 84(4) if, within 28 days after that date, the creditor gives notice to the debtor of the name, address and telephone number of a person stated to be the person to whom notice is to be given under section 84(3).

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Source: https://www.legislation.gov.uk/uksi/1983/1555/note (the official version)
Page: https://openlegislation.uk/consumer-credit-credit-token-agreements-regulations-1983/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.