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The Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016

S.I. 2016/530 · Made 25 April 2016

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Consumer Credit

Made 25th April 2016

Laid before Parliament 26th April 2016

Coming into force 17th May 2016

The Treasury, in exercise of the power conferred by section 55(1) of the Consumer Credit Act 1974f1, makes the following Regulations:

Annotations to the whole text

Footnotes

f1

1974. c 39.

Contents

  1. 1Citation and Commencement
  2. 2Amendment to the Consumer Credit (Disclosure of Information) Regulations 2010
  3. Signature
  4. Explanatory note

1Citation and Commencement

These Regulations may be cited as the Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016 and will come into force on 17th May 2016.

2Amendment to the Consumer Credit (Disclosure of Information) Regulations 2010

In the Consumer Credit (Disclosure of Information) Regulations 2010f1, in—

(a)

the entry in the second column of table 5 in Schedule 1 opposite the entry “If applicable Registration number”, and

(b)

the entry in the second column of table 5 in Schedule 3 opposite the entry “If applicable Registration number”,

after “and any other relevant registration number of the creditor.” insert “(For 90 days, starting on the day that a creditor is given an FRN, either the FRN or any Interim Permission Number valid immediately before the start of this 90 day period may be provided.)”.

Signature

George Hollingbery

Charlie Elphicke

Two of the Lords Commissioners of Her Majesty’s Treasury

25th April 2016

Explanatory note

(This note is not part of the Regulations)

These Regulations make provision in relation to the regulation of consumer credit under the Consumer Credit Act 1974 (c.39). They amend tables 5 of Schedules 1 and 3 to the Consumer Credit (Disclosure of Information) Regulations 2010 to ensure that a firm which has been given a Firm Reference Number following authorisation by the Financial Conduct Authority may continue to use its “Interim Permission Number” on forms for a period of 90 days, if it wishes to do so.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.