# The Consumer Credit (Exempt Agreements) Order 2007, Article 2: Exemption for high net worth debtors and hirers


The Consumer Credit Act 1974 shall not regulate a consumer credit agreement or a consumer hire agreement where—
(a) the debtor or hirer is a natural person;
(b) the agreement includes a declaration made by him complying with article 3 and Schedule 1;
(c) a statement of high net worth complying with articles 4 and 5 and Schedule 2 has been made in relation to him;
(d) that statement was made during the period of one year ending with the day on which the agreement was made; and
(e) before the agreement was made a copy of that statement was provided to the debtor or hirer and, if the statement was not made by the creditor or owner, to the creditor or owner.

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Source: https://www.legislation.gov.uk/uksi/2007/1168/article/2 (the official version)
Page: https://openlegislation.uk/consumer-credit-exempt-agreements-order-2007/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.