요약
The Consumer Credit Act 1974 regulates consumer credit and consumer hire agreements. It imposes requirements on the form and content of credit agreements, provides cancellation and early settlement rights, and establishes the connected lender liability principle in section 75 (making credit card companies jointly liable with suppliers for misrepresentation and breach of contract for purchases between £100 and £30,000).
핵심 포인트
- Regulates consumer credit agreements and consumer hire agreements
- Requirements for proper execution of regulated agreements (ss.60–65)
- s.75: credit card company jointly liable with supplier for breaches on purchases £100–£30,000
- Right of withdrawal and cancellation (ss.66A, 67–73)
- Right to early settlement and rebate of charges (ss.94–97A)
- Unfair relationships test: court can reopen credit agreements that are unfair (ss.140A–140D)
편과 조
개정 이력
2006 — Consumer Credit Act 2006
Introduced the unfair relationships test (ss.140A–140D), replacing the extortionate credit bargain provisions.
2014 — Transfer of FCA regulation
Consumer credit regulation transferred from the OFT to the FCA in April 2014.