# The Financial Services Act 2012 (Consumer Credit) Order 2013, Article 7: Amendments to the 1974 Act


(1) The 1974 Act is amended as follows.
(2) In section 49 (prohibition of canvassing debtor-creditor agreements off trade premises) for “OFT” in each place substitute “ FCA ”.
(3) In section 60 (form and content of agreements) —
(a) in subsection (1)—
(i) for “Secretary of State” in each place substitute “ Treasury ”;
(ii) for “him” in the first place it occurs substitute “ them ”;
(b) in subsection (3), for “OFT” in each place substitute “ FCA ”;
(c) in subsection (4), for “OFT” substitute “ FCA ”.
(4) In section 64(4) (duty to give notice of cancellation rights) , for “OFT” in each place substitute “ FCA ”.
(5) In section 74(3) (exclusion of certain agreements from Part 5) , for “OFT” in each place substitute “ FCA ”.
(6) In the heading of section 86A (OFT to prepare information sheets on arrears and default) , for “OFT” substitute “ FCA ”.
(7) In section 86A—
(a) in subsection (1), for “OFT shall prepare, and give general notice of,” substitute “ FCA shall prepare and issue ”;
(b) in subsection (5), for “general notice of it is given” substitute “ it is issued ”;
(c) for subsection (6), substitute—
“(6) If the FCA revises an information sheet after it has been issued, it shall issue the revised information sheet.”;
(d) in subsection (7), for “general notice of it is given” substitute “ it is issued ”.
(8) In section 101 (right to terminate hire agreement) —
(a) in subsection (8)—
(i) for “OFT” in each place substitute “ FCA ”;
(ii) omit “by notice to the applicant”;
(b) in subsection (8A)—
(i) for “OFT” substitute “ FCA ”;
(ii) omit “by general notice”.
(9) In section 113(2) (Act not to be evaded by use of security) , for “OFT” substitute “ FCA ”.
(10) In section 123(6) (restrictions on taking and negotiating instruments), for “Secretary of State” substitute “ Treasury ”.
(11) In section 159(8)(a) (correction of wrong information) , for “OFT” substitute “ FCA ”.
(12) In section 160 (alternative procedure for business consumers) , for “OFT” in each place substitute “ FCA ”.
(13) In section 161 (enforcement authorities) , in subsection (3), for “OFT” substitute “ FCA ”.
(14) In the heading of section 166 (notification of convictions and judgments to OFT) , for “OFT” substitute “ FCA ”.
(15) In section 166(a)—
(a) for “OFT under” substitute “ FCA under the Financial Services and Markets Act 2000 or ”;
(b) for “OFT's” substitute “FCA's”.
(16) In section 170 (no further sanctions for breach of Act) —
(a) in subsection (1), after “except to the extent (if any) expressly provided for by or under this Act” insert “ or by or under the Financial Services and Markets Act 2000 by virtue of an order made under section 107 of the Financial Services Act 2012 ”;
(b) in subsection (2), for “OFT” substitute “ FCA ”.
(17) In section 178 (local Acts), for “Secretary of State” in each place substitute “ Treasury ”.
(18) In section 181(1) (power to alter monetary limits etc.) , for “Secretary of State” substitute “ Treasury ”.
(19) In section 182 (regulations and orders) , for “Secretary of State” in each place substitute “ Treasury ”.
(20) In section 183 (determinations etc. by the OFT) —
(a) in the heading, for “OFT” substitute “ FCA ”;
(b) in subsection (1), for “OFT” substitute “ FCA ”.
(21) In section 188(4) (examples of use of new terminology), for “Secretary of State” substitute “ Treasury ”.
(22) In section 189 (definitions) —
(a) in subsection (1)—
(i) after the definition of “exempt agreement” insert—
““FCA” means the Financial Conduct Authority;”;
(ii) omit the definition of “general notice”;
(iii) omit the definition of “OFT”;
(iv) in the definition of “regulations”, for “Secretary of State” substitute “ Treasury ”;
(b) in subsection (5), for “OFT” in each place substitute “ FCA ”.

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Source: https://www.legislation.gov.uk/uksi/2013/1882/article/7 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012-consumer-credit-order-2013/article-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.