This snapshot taken on 04/01/2010, shows web content selected for preservation by The National Archives. External links, forms and search boxes may not work in archived websites.
 
 

Consumer Credit Directive Draft Regulations

As indicated earlier this year, BIS is now inviting comments on draft proposals for the regulations implementing the Consumer Credit Directive. All drafts take account of comments made to the Consumer Credit Directive consultation from earlier this year. Key points concerning the proposals are set out in a note for each article. Further detail will be set out in the official Government Response to the consultation, which is due to be published in September.

Please note that for the purpose of seeking comment, the drafts have been prepared by reference to each article in the Directive, rather than being in the final form of regulations. We anticipate there will be five sets of implementing regulations in total, comprising the text set out in the published drafts. There will be further modification to the text as issues are identified and as part of the process of clearing regulations through Parliamentary Counsel.

In order to give business time to implement the new requirements, BIS plans to make regulations before the end of 2009, to come into force in June 2010. We would welcome your comments as soon as possible but in any event no later than 1 September, in order to allow for sufficient time to finalise the regulations.

The drafts are accessible by clicking the links on this page. Any updated drafts will be published on this web site, so we encourage readers to check it regularly.

Comments should be sent to:

Tord Johnsen
Consumer and Competition Policy Directorate
Department for Business, Innovation & Skills
1 Victoria Street
London
SW1H 0ET

Fax: 020 7215 0130

Email: consumercreditdirective@bis.gsi.gov.uk

 

Consumer Credit Directive: Article 2 - scope [draft]Word document (53KB)

 

Consumer Credit Directive: overdrafts - Articles 2.3, 6, 10, 12 and 18 [draft]Word document (89KB)

 

Consumer Credit Directive: Article 4 - standard information to be included in advertising [draft]Word document (82KB)

 

Consumer Credit Directive: Article 5 - pre-contractual information [draft]Word document (122KB)

 

Consumer Credit Directive: Article 5.6 - adequate explanations and Article 8 – creditworthiness [draft]Word document (48KB)

 

Consumer Credit Directive: Article 9 - database access [draft]Word document (41KB)

 

Consumer Credit Directive: Article 10 - information to be included in credit agreements [draft]Word document (174KB)

 

Consumer Credit Directive: Article 11 - information concerning the borrowing rate [draft]Word document (53KB)

 

Consumer Credit Directive: Article 13 - open end agreements [draft]Word document (49KB)

 

Consumer Credit Directive: Article 14 - right of withdrawal [draft]Word document (55KB)

 

Consumer Credit Directive: Article 15 - linked credit agreements [draft]Word document (41KB)

 

Consumer Credit Directive: Article 16 - early repayment [draft]Word document (63KB)

 

Consumer Credit Directive: Article 17 - assignment of rights [draft]Word document (38KB)

 

Consumer Credit Directive: Article 19 and Annex I - calculation of APR [draft]Word document (63KB)

 

Consumer Credit Directive: Article 21 - credit intermediaries [draft]Word document (46KB)

 

© Crown copyright2009