95 Rebate on early settlement.U.K.
(1)Regulations may provide for the allowance of a rebate of charges for credit to the debtor under a regulated consumer credit agreeement where, under section 94, on refinancing, on breach of the agreement, or for any other reason, his indebtedness is discharged [F1or is discharged in part] or becomes payable before the time fixed by the agreement, or any sum becomes payable by him before the time so fixed.
(2)Regulations under subsection (1) may provide for calculation of the rebate by reference to any sums paid or payable by the debtor or his relative under or in connection with the agreement (whether to the creditor or some other person), including sums under linked transactions and other items in the total charge for credit.
Textual Amendments
F1Words in s. 95(1) inserted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 31, 99(1) (with regs. 100, 101)
Modifications etc. (not altering text)
C1Ss. 94-97A excluded (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 12(2) (with art. 1(3))
C2S. 95 applied (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 29(11)(c) (with Pt. 4)