- Made under
- Consumer Credit Act 1974
- Enforced by
- FCA
- Status
- In Force
- Penalty ceiling
- Regulated
Does it bind you?
Business-side roles with duties under this instrument.
Trader1
Other Acts binding the same actors
If a role above is yours, these are the other instruments that most often bind it.
Trader — also bound by 825 other Acts
Value Added Tax Regulations 1995
416 duties
Companies Act 2006
243 duties
Companies Act 1985
85 duties
What it requires
Regulations 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.
s.002
Entitlement to rebate (opens in a new tab)
Regulated
- Give customers a rebate when they settle credit agreements earlyTrader
33 other provisions — procedural and definitional
s.calculation of the amount of rebate (indebtedness
Calculation of the amount of rebate (indebtedness discharged in part)
s.examples illustrating use of formula for calculati
EXAMPLES ILLUSTRATING USE OF FORMULA FOR CALCULATING REBATE
s.para.13
The creditor receives notice from the debtor requesting early settlement...
s.para.14
Assuming that no charges are excluded from the calculation of...
s.para.15
The creditor opts to calculate the rebate using periods of...
s.para.16
Then the loan outstanding immediately after payment of the12th instalment...
s.para.17
If regulation 5(a) applies (making the settlement date 28 days...
s.para.18
If the creditor elects to defer the settlement date by...
s.para.19
For the calculation using the formula in regulation 4(1)— n...
s.para.20
Then the loan outstanding to be repaid immediately after payment...
s.para.21
The formula gives an amount outstanding after payment of the...
s.para.22
The debtor will also have to pay the instalment due...
s.para.23
Hence the total amount to be paid at the settlement...
s.para.24
For this example, the rebate would be £776.90; this is...
s.para.25
N.B. If the period between the 13th and 14th instalments...
s.para.27
Thus total amount repayable = £139.51 x 180 = £25,111.80....
s.para.28
The creditor receives notice from the borrower requesting early settlement...
s.para.29
Assuming that no charges are excluded from the calculation of...
s.para.30
The creditor opts to calculate the rebate using periods of...
s.para.31
Then the loan outstanding to be repaid immediately after payment...
s.para.32
The amount outstanding at the settlement date is then— £8,225.12...
s.para.33
Hence the total amount to be paid at the settlement...
s.para.34
N.B. If the period between the 72nd and 73rd instalments...
s.para.35
For this example, the rebate is £6,606.95; this is calculated...
Schedules
Schedules
0 of 2 shown2 other schedules
s.schedule/paragraph/1n1
Example 1—medium term, medium value loan
s.schedule/paragraph/1n2
Example 2—longer term, high value loan
Help complying
Guvnor’s practical routes through this instrument.
Connected legislation
The wider family of instruments made under the same parent Act.
Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.