Citation

1

This Order may be cited as the Consumer Credit Act 2006 (Commencement No 2 and Transitional Provisions) Order 2007.

NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

Consumer Law99 Banking & Finance Law99 Commercial Law99 Lending & Security99 Consumer Credit99

Interpretation

2

Interpretation2

In this Order “the 2006 Act” means the Consumer Credit Act 2006.

NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

Consumer Law99 Banking & Finance Law99 Commercial Law99 Lending & Security99 Consumer Credit99

Commencement

3

Commencement3

(1)    The provisions of the 2006 Act specified in Schedule 1 shall come into force on 31st January 2007.

(2)    The provisions of the 2006 Act specified in Schedule 2 shall come into force on 6th April 2007.

NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

Transitional Provisions

4

Transitional Provisions4

Subject to article 5, section 1 of the 2006 Act shall have no effect for the purposes of the 1974 Act, in relation to agreements made before 6th April 2007.

NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

5

5

Section 1 of the 2006 Act shall have effect for the purposes of the definitions of “debtor” and “hirer” in section 189(1) of the 1974 Act wherever those expressions are used in—

(a)    sections 77A, 78(4A), 86A, 86B, 86C, 86D, 86E, 86F, 129(1)(ba) 129A, 130A and 187A of the 1974 Act;

(b)    section 143(b) of the 1974 Act in respect of an application under section 129(1)(ba) of that Act; and

(c)    section 185(2) to (2C) of the 1974 Act insofar as it relates to a dispensing notice from a debtor authorising a creditor not to comply in the debtor's case with section 77A of that Act,

in relation to agreements made before 6 April 2007.

NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

Signature

Ian McCartney

Minister for Trade, Investment and Foreign Affairs

Department of Trade and Industry

23rd January 2007

SCHEDULE 1 Provisions Coming into Force on 31st January 2007

SCHEDULE 1Provisions Coming into Force on 31st January 2007 Article 3(1)
ProvisionsSubject matter of provisions
Section 8OFT to prepare information sheets on arrears and default
Section 69(1) insofar as it relates to paragraph 5 of Schedule 3Transitional provision
Paragraph 5 of Schedule 3Transitional provision relating to section 8
NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

SCHEDULE 2 Provisions Coming into Force on 6th April 2007

SCHEDULE 2Provisions Coming into Force on 6th April 2007 Article 3(2)
ProvisionsSubject Matter of Provisions
Section 1Definition of individual
Section 15Repeal of section 127(3) to (5) of the 1974 Act (enforcement orders in cases of infringement)
Section 19Unfair relationships between creditors and debtors
Section 20Powers of court in relation to unfair relationships
Section 21Interpretation of sections 140A (unfair relationships between creditors and debtors) and 140B (powers of court in relation to unfair relationships) of the 1974 Act
Section 22Further provision relating to unfair relationships
Repeal of sections 137 to 140 of the 1974 Act (extortionate credit bargains)
Section 69(1) insofar as it relates to paragraphs 11 and 14 to 16 of Schedule 3Transitional provision and savings
Paragraph 11 of Schedule 3Saving relating to repeal of section 127(3) to (5) of the 1974 Act (enforcement orders relating to improperly executed agreements)
Paragraph 14 of Schedule 3Transitional provision relating to section 140B of the 1974 Act (powers of court in relation to unfair relationships)
Paragraph 15 of Schedule 3Saving relating to repeal of sections 137 to 140 of the 1974 Act
Paragraph 16 of Schedule 3Transitional provision relating to sections 140B and 140C (interpretation of sections 140A and 140B)
Schedule 4 for the purposes of the entries relating to sections 127(1) and (3) to (5), 137 to 140, 143(b), 181(1) in respect of the words “139(5) and (7)”, 181(2) in respect of the words “or 139 (5) or (7)” and 185(3) of the 1974 ActRepeals
NOTES
Initial Commencement
Date Made

Date made: 23 January 2007: (no specific commencement provision).

Consumer Law94 Banking & Finance Law94 Commercial Law94 Consumer Credit Agreements94 Lending & Security94 Consumer Credit94

EXPLANATORY NOTE

EXPLANATORY NOTE (This note is not part of the Order)

This Order brings into force certain provisions of the Consumer Credit Act 2006, which amend the Consumer Credit Act 1974.

The provisions in Schedule 1 come into force on 31st January 2007 and the provisions in Schedule 2 come into force on 6th April 2007.

The remaining provisions of the Consumer Credit Act 2006 will be brought into force by subsequent Orders.

Consumer Law99 Banking & Finance Law99 Commercial Law99 Lending & Security99 Consumer Credit99

Practice Areas