Statutory Instrument 1991 No. 1393

The Consumer Credit (Exempt Agreements) (Amendment) Order 1991

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© Crown Copyright 1991

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1991 No. 1393

CONSUMER CREDIT

The Consumer Credit (Exempt Agreements) (Amendment) Order 1991

The Secretary of State, after consulting in accordance with section 16(3) of the Consumer Credit Act 1974^[1] the persons therein referred to, in exercise of the powers conferred on him by sections 16(1), (4), (5) and (6) and 182(2) and (4) of that Act, and of all other powers enabling him in that behalf, hereby makes the following Order:

    1.    This Order may be cited as the Consumer Credit (Exempt Agreements) (Amendment) Order 1991 and shall come into force on 9th July 1991.

    2.    The Consumer Credit (Exempt Agreements) Order 1989^[2] is hereby amended as follows—
 (a) in article 4—
 (i) in paragraph (2)(b), by substituting for the figure "14" the figure "15"; and
 (ii) in paragraph (6), by substituting for the words "TSB England and Wales public limited company" the words "TSB Bank Plc";
 (b) in article 6, by inserting before the words "electricity or water" wherever they occur the word "gas,";
 (c) in Part I of Schedule 1—
 (i) by inserting after the entry—
"The Equitable Life Assurance Society" the entry—
"Equico International Limited";
 (ii) by inserting after the entry—
"Pioneer Mutual Insurance Company Limited" the entry—
"Prolific Life and Pensions Limited";
 (iii) by substituting for the entry—
"Nottingham Oddfellows Friendly Society" the entry—
"Nottingham Oddfellows Assurance Friendly Society";
 (iv) by deleting the entries—
"Provincial Life Assurance Company Limited"
"The Loyal Order of Ancient Shepherds (Ashton Unity) Friendly Society";
 (v) by inserting after the entry—
"The Scottish Legal Life Assurance Society" the entry—
"The Shepherds Friendly Society"; and
 (vi) by inserting after the entry—
"Church of Scotland Trust" the entry—
"The Representative Body of the Church in Wales";
 (d) by substituting for Part III of Schedule 1, the following Part—

"PART III
bodies corporate named or specifically referred to in an order made under section 156(4), 444(1) or 447(2)(a) of the housing act 1985

Abbey Life Executive Mortgages Limited




Abbey Life Funding Limited




Abbey Life Home Loans Limited




Abbey Life Home Services Limited




Abbey Life Mortgage Finance Limited




Abbey Life Mortgage Loans Limited




Abbey Life Mortgage Securities Limited




Abbey Life Residential Loans Limited




CIS Mortgage Maker Limited




General Portfolio Finance Limited




Halifax Loans Limited




Halifax Loans (No. 2) Limited




Halifax Loans (No. 3) Limited




Halifax Loans (No. 4) Limited




HMC First Home National PLC




Household Mortgage Corporation PLC




Lombard Home Loans Limited




London and Manchester (Mortgages) (No. 1) Limited




London and Manchester (Mortgages) (No. 2) Limited




London and Manchester (Mortgages) (No. 3) Limited




London and Manchester (Mortgages) (No. 4) Limited




The Mortgage Corporation Limited




The National Home Loans Corporation Limited




National Mutual Home Loans plc




National Westminster Home Loans Limited




Royal London Homebuy Limited




Secured Residential Funding PLC




Sun Life of Canada Home Loans Limited




Wesleyan Home Loans Limited

Edward Leigh

Parliamentary Under-Secretary of State, Department of Trade and Industry

14th June 1991

This Order provides for further, miscellaneous, amendments to the Consumer Credit (Exempt Agreements) Order 1989.

It clarifies the provision made by article 4(2)(b) of that Order in relation to agreements which will not be exempted from regulation under the Consumer Credit Act 1974 if they permit creditors to increase certain amounts charged for credit, by altering a reference to the Consumer Credit (Total Charge for Credit) Regulations 1980 (S.I. 1980/51).

It also exempts, in a manner consistent with existing exemptions conferred on electricity and water suppliers, consumer hire agreements relating to meters and metering equipment where the owner is a body corporate authorised to supply gas.

The Order makes provision for exemption for certain consumer credit agreements where the creditor is a body specified in Schedule 1 to the Order by adding one insurance company and one charity to the list in Part I, and eight bodies to the list in Part III, of that Schedule.

[1] 1974 c. 39; section 16 was amended by the Employment Protection Act 1975 (c. 71), section 125 and Schedule 18; the Telecommunications Act 1984 (c. 12), section 109 and Schedule 4, paragraph 60; the Building Societies Act 1986 (c. 53), section 120 and Schedules 18 and 19; the Housing and Planning Act 1986 (c. 63), section 22; the Banking Act 1987 (c. 22), section 88; the Housing (Scotland) Act 1987 (c. 26), section 339 and Schedule 23, paragraph 21 and the Housing Act 1988 (c. 50), section 140 and Schedule 17, paragraph 20. back

[2] S.I. 1989/869, amended by S.I. 1989/1841 and 2337. back