|
DTI is in the early stages of planning the implementation of the Consumer Credit Act 2006.
We are in continuing discussions with stakeholders on all aspects of implementation, and we will continue to consult. In particular,
we will work with stakeholders to develop a workable timetable for implementation. The Minister announced on 29 March our
intention to publish the final timetable for implementation towards the end of May 2006.
We will update this page with more information on the implementation process and timetable as it becomes available.
Process
Our planning is proceeding on the basis that:
• the Act should be implemented as soon as is practicable - this will mean that some provisions will be commenced earlier
than others, depending on lead times for preparation and inter-dependencies between clauses;
• we will ensure relevant guidance is published at least three months before the in-force date, to give business and those
affected time to understand what they will need to do to comply and adjust to it; and
• in relation to those areas affecting business, we will adhere to the DTI's Common Commencement Dates for regulation, where
appropriate. This means that requirements where business must comply will be brought into force on one of two dates in the
year, 6 April or 1 October.
Working Groups
As part of the implementation process we have set up two specialist working groups to consider the practical implications,
in particular to industry, of the new information requirements in the Consumer Credit Act 2006. These groups will help us
to refine our implementation timetable over the coming months. The membership of these groups has been decided based on nominations
from stakeholders.
The IT Discussion Group comprises industry membership. Its objective is to enable DTI to get a better understanding of the resource and timing implications
of the IT changes that industry will be required to make in preparation for implementation of the 2006 Act.
The first meeting of the IT Discussion group took place on 3 May 2006.
The Technical Discussion Group comprises a wider membership of industry and consumer groups. Its main objective is to act as an initial sounding board for
DTI's consultation proposals, providing practical perspectives and reviewing the proposals for practicality and proportionality
on a cross-industry basis.
We will also provide information here about the Technical Discussion Group meetings, as it becomes available.
Better Regulation
DTI is committed to better regulation and is at the forefront of the Government’s drive to reduce red tape and burdens on
business, while retaining important protections for consumers.
More information about this Whitehall-wide agenda can be found at the Better Regulation Executive website www.betterregulation.gov.uk and about better regulation at DTI at http://www.dti.gov.uk/bbf/better-regulation/
|
Better Business Framework
Reports & Publications
Confident Consumers - A Fair Deal creating Prosperity & Success for All
(91Kb)
