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Regulation 7 Information about contractual terms and conditions: regulations 3, 4 and 5F4

United Kingdom

(1)

This regulation applies to an agreement which is—

(a)

a distance contract to which F1regulation 3, 4 or 5 applies, and

(b)

which is not entered into by the debtor wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by him.

(2)

The creditor must ensure that—

(a)

the information provided to the debtor pursuant to F2regulation 3, 4 or 5 includes the contractual terms and conditions, and

(b)

the information provided to the debtor in relation to the contractual obligations which would arise if the distance contract were made accurately reflects the contractual obligations which would arise under the law presumed to be applicable to that contract.

F3(3)

Article 60C(5) and (6) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies for the purposes of paragraph (1).

Annotations

Textual amendments

F1

Words in reg. 7(1)(a) substituted (26.8.2010) by The Consumer Credit (Amendment) Regulations 2010 (S.I. 2010/1969), regs. 1, 36(b)

F2

Words in reg. 7(2)(a) substituted (26.8.2010) by The Consumer Credit (Amendment) Regulations 2010 (S.I. 2010/1969), regs. 1, 36(c)

F3

Reg. 7(3) substituted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), art. 1(2)(6), 26(7)

F4

Words in reg. 7 heading substituted (26.8.2010) by The Consumer Credit (Amendment) Regulations 2010 (S.I. 2010/1969), regs. 1, 36(a)

Notes on the whole SI

Textual amendments

F1

Words in Regulations substituted (26.7.2013 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), art. 26(2)