Consumer Credit Act 1974U.K.
194.—(1) In consequence of the amendments made by regulation 89 and other provisions of these Regulations, section 8 of the Consumer Credit Act 1974 M1 (consumer credit agreements) is amended as follows.
(2) In subsection (3)(b) M2, for the words after “an agreement” substitute “ the purpose of which is the acquisition or retention, by an individual acting for purposes outside those of any trade, business or profession carried on by the individual, of property rights in land or in an existing or projected building ”.
(3) After subsection (3) insert—
“(3A) A reference in paragraph (3)(b) to any land or building—
(a)in relation to an agreement entered into before [F1IP completion day], is a reference to any land or building in the United Kingdom or within the territory of an EEA State;
(b)in relation to an agreement entered into on or after [F1IP completion day], is a reference to any land or building in the United Kingdom.”.
Textual Amendments
F1Words in reg. 194(3) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 33(x)
Modifications etc. (not altering text)
C1Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 194 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M2Subsection (3) was substituted by S.I. 2015/910 and was amended by S.I. 2016/392.