Explanatory note

Section 74(1)(c) and (3) of the Consumer Credit Act 1974 provides that, where the Director General of Fair Trading so determines, Part V of the Act (entry into credit or hire agreements), except section 56, does not apply to a debtor-creditor agreement to finance the making of such payments arising on, or connected with, the death of a person as may be prescribed. These Regulations prescribe certain payments for that purpose. These are:—

(a)payments of capital transfer tax;

(b)payments of certain court fees relating to a grant of representation (or in Scotland of confirmation);

(c)payments to a surety (or in Scotland to a cautioner) in relation to certain of such grants.