{
  "url": "https://openlegislation.uk/consumer-credit-total-charge-for-credit-regulations-1980/regulation-7",
  "json_url": "https://openlegislation.uk/consumer-credit-total-charge-for-credit-regulations-1980/regulation-7.json",
  "legislation": "uksi/1980/51",
  "legislation_title": "The Consumer Credit (Total Charge for Credit) Regulations 1980",
  "legislation_url": "https://openlegislation.uk/consumer-credit-total-charge-for-credit-regulations-1980",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": "Calculation where a period rate is charged",
  "text": "(1) In the case of—\n(a) an agreement under which the only charge for credit is a constant period rate of charge in respect of periods of equal length being either—\n(i) an agreement for running-account credit, or\n(ii) an agreement for fixed-sum credit where the credit is not repayable at specified intervals or in specified amounts; and\n(b) an agreement for fixed-sum credit under which—\n(i) the only charge for credit is a constant period rate of charge in respect of periods of equal length,\n(ii) credit is outstanding throughout one or more such periods, and\n(iii) every repayment of credit and of the total charge for credit is made at the end of such a period,\nthe annual percentage rate of charge is given by the following formula—\n100 ⁢ [ ( 1 + x 100 ) y − 1 ] x is the period rate of charge expressed as a percentage; and\ny is the number of periods in a year in relation to which the period rate of charge is charged.\n(2) For the purpose of these Regulations, “period rate of charge” means a percentage rate of charge for a period, comprising all charges included in the total charge for credit determined in accordance with Part II of these Regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "substituted for reg. 7-9",
      "affecting": "uksi/1999/3177",
      "affecting_title": "The Consumer Credit (Total Charge for Credit, Agreements and Advertisements) (Amendment) Regulations 1999"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1980/51/regulation/7",
    "retrieved_at": "2026-10-29T19:06:42.191429+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}