Regulation 3 Amendment of the Consumer Credit (Advertisements) Regulations 2004

(1)

The Consumer Credit (Advertisements) Regulations 2004^f1 shall be amended as follows.

(2)

In Schedule 2 (information to be contained in a credit advertisement) in the shoulder note for the words “and (6)” substitute “and (5)”.

(3)

In Schedule 2 for paragraph 7 (total amount payable by the debtor) substitute—

“7.

In the case of an advertisement relating to fixed-sum credit to be provided under a consumer credit agreement which is repayable at specified intervals or in specified amounts and other than cases under which the sum of the payments within sub-paragraphs (a) to (c) below is not greater than the cash price referred to in paragraph 3, the total amount payable by the debtor, being the total of—

(a)

advance payments;

(b)

the amount of credit repayable by the debtor, and

(c)

the amount of the total charge for credit.”.

(4)

In Schedule 3 (information to be contained in a hire advertisement)—

(a)

in paragraph 5(2) for the word “debtor” substitute “hirer”;

(b)

in paragraph 5(3)—

(i)

for the word “creditor” substitute “owner”; and

(ii)

for the word “debtor” substitute “hirer”.

Annotations

Footnotes

f1: S.I. 2004/1484.