| Guvnor

Enforced by: FCA
Status: Amended (in force with amendments)
Penalty ceiling: Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

71 other provisions — procedural and definitional

s.001 Definition of ‘individual’

s.002 Removal of financial limits etc.

s.003 Exemption relating to high net worth debtors and hirers

s.004 Exemption relating to businesses

s.005 Consequential amendments relating to ss. 1 to 4

s.006 Statements to be provided in relation to fixed-sum credit agreements

s.007 Further provision relating to statements

s.008 OFT to prepare information sheets on arrears and default

s.009 Notice of sums in arrears under fixed-sum credit agreements etc.

s.010 Notice of sums in arrears under running-account credit agreements

s.011 Failure to give notice of sums in arrears

s.012 Notice of default sums

s.013 Interest on default sums

s.014 Default notices

s.015 Enforceability of regulated agreements

s.016 Time orders

s.017 Interest payable on judgment debts etc.

s.018 Definition of “default sum”

s.019 Unfair relationships between creditors and debtors

s.020 Powers of court in relation to unfair relationships

s.021 Interpretation of ss. 140A and 140B of the 1974 Act

s.022 Further provision relating to unfair relationships

s.023 Definitions of ‘consumer credit business’ and ‘consumer hire business’

s.024 Debt administration etc.

s.025 Credit information services

s.026 Enforcement of agreements by unlicensed trader etc.

s.027 Charge on applicants for licences etc.

s.028 Applications for standard licences

s.029 Issue of standard licences

s.030 Guidance on fitness test

s.031 Variation of standard licences etc.

s.032 Winding-up of standard licensee's business

s.033 Consequential amendments relating to ss. 27 to 32

s.034 Definite and indefinite licences

s.035 Charges for indefinite licences

s.036 Extension of period to pay charge for indefinite licence

s.037 Failure to pay charge for indefinite licence

s.038 Power of OFT to impose requirements on licensees

s.039 Power of OFT to impose requirements on supervisory bodies

s.040 Supplementary provision relating to requirements

s.041 Procedure in relation to requirements

s.042 Guidance on requirements

s.043 Consequential amendments relating to requirements

s.044 Provision of information etc. by applicants

s.045 Duties to notify changes in information etc.

s.046 Power of OFT to require information generally

s.047 Power of OFT to require access to premises

s.048 Entry to premises under warrant

s.049 Failure to comply with information requirement

s.050 Officers of enforcement authorities other than OFT

s.051 Consequential amendments relating to information

s.052 Power of OFT to impose civil penalties

s.053 Further provision relating to civil penalties

s.054 Statement of policy in relation to civil penalties

s.055 The Consumer Credit Appeals Tribunal

s.056 Appeals to the Consumer Credit Appeals Tribunal

s.057 Appeals from the Consumer Credit Appeals Tribunal

s.058 Consequential amendments relating to appeals

s.059 Financial services ombudsman scheme to apply to consumer credit licensees

s.060 Funding of ombudsman scheme

s.061 Consequential amendments relating to ombudsman scheme

s.062 Monitoring of businesses by OFT

s.063 Disapplication of s.101 of the 1974 Act

s.064 Determinations etc. by OFT

s.065 Sums received by OFT

s.066 Financial provision

s.067 Interpretation

s.068 Consequential amendments

s.069 Transitional provision and savings

s.070 Repeals

s.071 Short title, commencement and extent

Schedules

1 of 29 shown

s.sch003 The OFT shall prepare, and give general notice of, the... Regulated

Other duties (1) — Crown / regulator

OFT must prepare and give general notice of arrears and default information sheetsStatutory regulator

28 other schedules

s.sch003 (1) Expressions used in the 1974 Act have the same...

s.sch003 Section 14 of this Act shall have effect in relation...

s.sch003 The repeal by this Act of— (a) the words “(subject...

s.sch003 A debtor or hirer under an agreement may make an...

s.sch003 Section 130A of the 1974 Act applies in relation to...

s.sch003 (1) The court may make an order under section 140B...

s.sch003 (1) The repeal by this Act of sections 137 to...

s.sch003 (1) It is immaterial for the purposes of section 140C(4)(a)...

s.sch003 Section 1 of this Act shall have no effect for...

s.sch003 (1) Section 6A of the 1974 Act shall not apply...

s.sch003 (1) The OFT shall prepare and publish the guidance required...

s.sch003 (1) Section 77A of the 1974 Act applies in relation...

s.sch003 The cases in which the OFT may impose requirements under...

s.sch003 (1) The OFT shall prepare and publish the guidance required...

s.sch003 (1) Section 44 of this Act has no effect in...

s.sch003 A person is not required by section 36A of the...

s.sch003 (1) The OFT shall prepare and publish the statement of...

s.sch003 (1) A person who— (a) immediately before the commencement of...

s.sch003 (1) Neither— (a) subsections (1) and (2) of section 56...

s.sch003 Neither subsection (1) nor (4)(a) of section 58 of this...

s.sch003 Section 1 of this Act shall have no effect for...

s.sch003 Regulations made under section 78(4A) of the 1974 Act may...

s.sch003 (1) Section 7(3) of this Act shall have effect in...

s.sch003 (1) Section 86B of the 1974 Act applies in relation...

s.sch003 (1) Section 86C of the 1974 Act applies in relation...

s.sch003 Section 86E of the 1974 Act applies in relation to...

s.sch003 (1) Section 86F of the 1974 Act applies in relation...

Help complying

Guvnor’s practical routes through this instrument.

Handle Section 75 claims from customers

What to do when a customer makes a Section 75 connected lender liability claim. Covers validating the claim against the £100 to …

Comply with debt collection rules

When collecting consumer debts, as the original lender or a third-party collector, you must treat customers in financial difficulty with forbearance and …

1 more guide that reference this instrument

Section 75 claims and connected lender liability

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.