Explanatory note

These Regulations consolidate with amendments the Consumer Credit (Quotations) Regulations 1980 as amended. The Regulations prescribe the form and content of documents (“quotations”) in which persons carrying on consumer credit businesses, consumer hire businesses and businesses in the course of which credit secured on land is provided to individuals give prospective customers information about the terms on which they are prepared to do business. They also apply to quotations and information given by credit-brokers about the business of any person to whom the credit-broker effects introductions, as well as to the giving of quotations and information about his own business.

The Regulations also prescribe the circumstances in which such quotations are to be provided. A quotation must be provided in response to a request for written information made in writing, orally on the trader’s premises or, in certain circumstances, by telephone.

A number of detailed provisions in the 1980 Regulations have been omitted and the Regulations have been simplified.

The “Consumer credit tables” (Parts 1 to 15) referred to in regulation 1(2) and Schedule 3 may be obtained from Her Majesty’s Stationery Office or through booksellers.