Citation, commencement, interpretation and revocation

1.—(1) This Order may be cited as the Consumer Credit (Exempt Agreements) Order 1989 and shall come into force on 19th June 1989.

(2) In this Order—

“the Act” means the Consumer Credit Act 1974;

“business premises” means premises for occupation for the purposes of a business (including any activity carried on by a body of persons, whether corporate or unincorporate) or for those and other purposes;

and references to the total charge for credit and the rate thereof are respectively references to the total charge for credit and the rate thereof calculated in accordance with the Consumer Credit (Total Charge for Credit) Regulations 1980(2).

(3) The Orders specified in Schedule 2 to this Order are hereby revoked.

Exemption of certain consumer credit agreements secured on land

2.—(1) The Act shall not regulate a consumer credit agreement which falls within section 16(2) of the Act, being an agreement to which this paragraph applies.

(2) Where the creditor is a body specified in Part I of Schedule 1 to this Order, or a building society authorised under the Building Societies Act 1986(3), or an authorised institution under the Banking Act 1987(4) or a wholly-owned subsidiary of such an institution, paragraph (1) above applies only to—

(a)a debtor-creditor-supplier agreement falling within section 16(2)(a) or (c) of the Act;

(b)a debtor-creditor agreement secured by any land mortgage to finance—

(i)the purchase of land; or

(ii)the provision of dwellings or business premises on any land; or

(iii)subject to paragraph (3) below, the alteration, enlarging, repair or improvement of a dwelling or business premises on any land;

(c)a debtor-creditor agreement secured by any land mortgage to refinance any existing indebtedness of the debtor, whether to the creditor or another person, under any agreement by which the debtor was provided with credit for any of the purposes specified in heads (i) to (iii) of sub-paragraph (b) above.

(3) Head (iii) of sub-paragraph (b) of paragraph (2) above applies only—

(i)where the creditor is the creditor under—

(a)an agreement (whenever made) by which the debtor is provided with credit for any of the purposes specified in head (i) and head (ii) of that sub-paragraph; or

(b)an agreement (whenever made) refinancing an agreement under which the debtor is provided with credit for any of the said purposes,

being, in either case, an agreement relating to the land referred to in the said head (iii) and secured by a land mortgage on that land; or

(ii)where a debtor-creditor agreement to finance the alteration, enlarging, repair or improvement of a dwelling, secured by a land mortgage on that dwelling, is made as a result of any such services as are described in section 4(3)(dd) of the Housing Associations Act 1985(5) which are certified as having been provided by—

(a)a local authority;

(b)a housing association within the meaning of section 1 of the Housing Associations Act 1985 or Article 114 of the Housing (Northern Ireland) Order 1981(6);

(c)a body established by such a housing association for the purpose of providing such services as are described in the said section 4(3)(dd);

(d)a charity;

(e)the National Home Improvement Council; or

(f)the Northern Ireland Housing Executive.

(4) Where the creditor is a body specified in Part II of Schedule 1 to this Order, paragraph (1) above applies only to an agreement of a description specified in that Part in relation to that body and made pursuant to an enactment or for a purpose so specified.

(5) Where the creditor is a body specified in Part III of Schedule 1 to this Order, paragraph (1) above applies only to an agreement of a description falling within Article 2(2)(a) to (c) above, being an agreement advancing money on the security of a dwelling-house.

Exemption of certain consumer credit agreements by reference to the number of payments to be made by the debtor

3.—(1) The Act shall not regulate a consumer credit agreement which is an agreement of one of the following descriptions, that is to say—

(a)a debtor-creditor-supplier agreement being either—

(i)an agreement for fixed-sum credit under which the total number of payments to be made by the debtor does not exceed four, and those payments are required to be made within a period not exceeding 12 months beginning with the date of the agreement; or

(ii)an agreement for running-account credit which provides for the making of payments by the debtor in relation to specified periods and requires that the number of payments to be made by the debtor in repayment of the whole amount of the credit provided in each such period shall not exceed one;

not being, in either case, an agreement of a description specified in paragraph (2) below; and in this sub-paragraph, “payment” means a payment comprising an amount in respect of credit with or without any other amount;

(b)a debtor-creditor-supplier agreement financing the purchase of land being an agreement under which the number of payments to be made by the debtor does not exceed four; and in this sub-paragraph, “payment” means a payment comprising or including an amount in respect of credit or the total charge for credit (if any);

(c)a debtor-creditor-supplier agreement for fixed-sum credit to finance a premium under a contract of insurance relating to any land or to anything thereon where—

(i)the creditor is the creditor under an agreement secured by a land mortgage on that land which either is an exempt agreement by virtue of section 16(1) of the Act or of article 2 above, or is a personal credit agreement which would be an exempt agreement by virtue of either of those provisions if the credit provided were not to exceed £15,000;

(ii)the amount of the credit is to be repaid within the period to which the premium relates, not being a period exceeding 12 months; and

(iii)there is no charge forming part of the total charge for credit under the agreement other than interest at a rate not exceeding the rate of interest from time to time payable under the agreement mentioned in head (i) above,

and the number of payments to be made by the debtor does not exceed twelve; and in this sub-paragraph “payment” has the same meaning as it has in paragraph (1)(b) above; and

(d)a debtor-creditor-supplier agreement for fixed-sum credit where—

(i)the creditor is the creditor under an agreement secured by a land mortgage on any land which either is an exempt agreement by virtue of section 16(1) of the Act or of article 2 above, or is a personal credit agreement which would be an exempt agreement by virtue of either of those provisions if the credit provided were not to exceed £15,000;

(ii)the agreement is to finance a premium under a contract of life insurance which provides, in the event of the death before the credit under the agreement referred to in head (i) above has been repaid of the person on whose life the contract is effected, for payment of a sum not exceeding the amount sufficient to defray the sums which, immediately after that credit has been advanced, would be payable to the creditor in respect of that credit and of the total charge for that credit; and

(iii)there is no charge forming part of the total charge for credit under the agreement other than interest at a rate not exceeding the rate of interest from time to time payable under the agreement referred to in head (i) above,

and the number of payments to be made by the debtor does not exceed twelve; and in this sub-paragraph, “payment” has the same meaning as it has in sub-paragraph (1)(b) above.

(2) The descriptions of agreement referred to in sub-paragraph (a) of paragraph (1) above and to which accordingly that sub-paragraph does not apply are—

(a)agreements financing the purchase of land;

(b)agreements which are conditional sale agreements or hire-purchase agreements; and

(c)agreements secured by a pledge (other than a pledge of documents of title or of bearer bonds).

Exemption of certain consumer credit agreements by reference to the rate of the total charge for credit

4.—(1) The Act shall not regulate a consumer credit agreement which is an agreement of one of the following descriptions, that is to say—

(a)subject to paragraphs (2), (3) and (4) below, any debtor-creditor agreement in respect of which the rate of the total charge for credit does not exceed the rate referred to in paragraph (5) below;

(b)subject to paragraph (4) below, a debtor-creditor-supplier agreement for fixed-sum credit where—

(i)the creditor is the creditor under an agreement secured by a land mortgage on any land which either is an exempt agreement by virtue of section 16(1) of the Act or of article 2 above, or is a personal credit agreement which would be an exempt agreement by virtue of either of those provisions if the credit provided were not to exceed £15,000;

(ii)the agreement is to finance a premium under a contract of life insurance which provides, in the event of the death before the credit under the agreement referred to in head (i) above has been repaid of the person on whose life the contract is effected, for payment of a sum not exceeding the amount sufficient to defray the sums which, immediately after that credit has been advanced, would be payable to the creditor in respect of that credit and of the total charge for that credit; and

(iii)there is no charge forming part of the total charge for credit under the agreement other than interest at a rate not exceeding the rate of interest from time to time payable under the agreement referred to in head (i) above,

and in respect of which the rate of the total charge for credit does not exceed the rate referred to in paragraph (5) below;

(c)subject to paragraph (4) below, a debtor-creditor agreement in respect of which the only amount included in the total charge for credit is interest which cannot under the agreement at any time exceed the higher of the following, that is to say—

(i)the sum of one per cent and the highest of any base rates published by the banks named in paragraph (6) below, being the latest rates in operation on the date 28 days before any such time; and

(ii)13 per cent;

and for the purposes of this sub-paragraph, “interest” means interest at a rate determined in accordance with the formula set out in paragraph (1) of regulation 7 of the Consumer Credit (Total Charge for Credit) Regulations 1980(7), and in that formula as applied by this paragraph “period rate of charge” has the meaning assigned to it in paragraph (2) of that regulation.

(2) Subject to paragraph (3) below, sub-paragraph (a) of paragraph (1) above does not apply to agreements which provide for an increase in, or permit the creditor to increase, the rate or amount of any item which—

(a)is included in the total charge for credit; or

(b)would fall to be so included, apart from the operation of regulation 14 of the Consumer Credit (Total Charge for Credit) Regulations 1980,

after the relevant date of the agreement within the meaning of regulation 1(2) of those Regulations.

(3) Sub-paragraph (a) of paragraph (1) above does apply to agreements—

(a)in relation to which the debtor, or any one of two or more debtors where each debtor is a relative of the other debtor or of one of the other debtors, is an employee of the creditor or of an associate of his and which provide for an increase in, or permit the creditor to increase, the rate or amount of any item such as is mentioned in paragraph (2) above on the termination of such employment with the creditor or such associate, as the case may be; or

(b)under which the rate or amount of any such item falls to be ascertained throughout the duration of the agreement by reference to the level of any index or other factor in accordance with any formula specified in the agreement;

and which do not provide for an increase in, or permit the creditor to increase, the rate or amount of any item mentioned in paragraph (2) above in any way other than those permitted by either or both of sub-paragraphs (a) or (b) of this paragraph.

(4) Paragraph (1) above does not apply to agreements under which the total amount to be repaid by the debtor to discharge his indebtedness in respect of the amount of credit provided may vary according to any formula specified in the agreement having effect by reference to movements in the level of any index or to any other factor.

(5) The rate mentioned in sub-paragraphs (a) and (b) of paragraph (1) above is the higher of the following, that is to say—

(a)the sum of one per cent and the highest of any base rates published by the banks named in paragraph (6) below, being the latest rates in operation on the date 28 days before the date on which the agreement is made; and

(b)13 per cent.

(6) The banks referred to in paragraphs (1)(c) and (5)(a) above are—

• Bank of England

• Bank of Scotland

• Barclays Bank PLC

• Clydesdale Bank PLC

• Co-operative Bank Public Limited Company

• Coutts & Co.

• Lloyds Bank PLC

• Midland Bank Public Limited Company

• National Westminster Bank Public Limited Company

• The Royal Bank of Scotland p.l.c.

• TSB England & Wales public limited company.

Exemption of certain consumer credit agreements having a connection with a country outside the United Kingdom

5.  The Act shall not regulate a consumer credit agreement made—

(a)in connection with trade in goods or services between the United Kingdom and a country outside the United Kingdom or within a country or between countries outside the United Kingdom, being an agreement under which credit is provided to the debtor in the course of a business carried on by him; or

(b)between a creditor listed in Part IV of Schedule 1 to this Order and a debtor who is—

(i)a member of any of the armed forces of the United States of America;

(ii)an employee not habitually resident in the United Kingdom of any of those forces; or

(iii)any such member’s or employee’s wife or husband or any other person (whether or not a child of his) whom he wholly or partly maintains and treats as a child of the family.

Exemption of certain consumer hire agreements

6.  The Act shall not regulate a consumer hire agreement where the owner is a body corporate authorised by or under any enactment to supply electricity or water and the subject of the agreement is a meter or metering equipment used or to be used in connection with the supply of electricity or water, as the case may be.

Articles 2 and 5

SCHEDULE 1BODIES WHOSE AGREEMENTS OF THE SPECIFIED DESCRIPTION ARE EXEMPT AGREEMENTS

PART Iinsurance companies

• Abbey Life Assurance Company Limited

• Abbey Life Pension and Annuities Limited

• Albany Life Assurance Company Limited

• Allchurches Life Assurance Limited

• Alliance Assurance Company Limited

• Allied Dunbar Assurance PLC

• Ambassador Life Assurance Company Limited

• American Life Insurance Company

• Ansvar Insurance Company Limited

• Atlas Assurance Company Limited

• Australian Mutual Provident Society

• Avon Insurance PLC

• Black Horse Life Assurance Company Limited

• Bradford Insurance Company Limited

• Britannic Assurance Public Limited Company

• The British & European Reinsurance Company Limited

• British Equitable Assurance Company Limited

• The British Life Office Limited

• The British Oak Insurance Company Limited

• British Reserve Insurance Company Limited

• Caledonian Insurance Company

• The Cambrian Insurance Company Limited

• The Canada Life Assurance Company

• Cannon Assurance Limited

• Car and General Insurance Corporation Limited

• Citibank Assurance Company Limited

• City of Westminster Assurance Company Limited

• City of Westminster Assurance Society Limited

• Clerical, Medical and General Life Assurance Society

• The Colonial Mutual Life Assurance Society Limited

• Commercial Union Assurance Company plc

• Commercial Union Pensions Management Limited

• Commercial Union Life Assurance Company Limited

• Confederation Life Insurance Company

• The Contingency Insurance Company Limited

• Co-operative Insurance Society Limited

• Cornhill Insurance Public Limited Company

• Criterion Insurance Company Limited

• Crown Life Assurance Company Limited

• Crown Life Insurance Company Limited

• Crown Life Pensions Limited

• Crusader Insurance PLC

• The Dominion Insurance Company Limited

• Eagle Star Insurance Company Limited

• Ecclesiastical Insurance Office plc

• Economic Insurance Company Limited

• English & American Insurance Company Limited

• The Equitable Life Assurance Society

• Equity & Law Life Assurance Society plc

• Essex and Suffolk Insurance Company Limited

• Excess Insurance Company Limited

• Federation Mutual Insurance Limited

• Fine Art and General Insurance Company Limited

• Friends' Provident Life Office

• FS Assurance Limited

• General Accident Fire and Life Assurance Corporation Public Limited Company

• General Accident Life Assurance Limited

• General Accident Linked Life Assurance Limited

• General Portfolio Life Insurance Public Limited Company

• Gisborne Life Assurance Company Limited

• Gresham Life Assurance Society Limited

• Guardian Assurance plc

• Guardian Royal Exchange Assurance plc

• Hill Samuel Life Assurance Limited

• The Ideal Insurance Company Limited

• The Imperial Life Assurance Company of Canada

• Irish Life Assurance plc

• The Iron Trades Employers Insurance Association Limited

• Langham Life Assurance Company Limited

• Legal and General Assurance Society Limited

• The Licenses and General Insurance Company Limited

• The Life Association of Scotland Limited

• London Aberdeen & Northern Mutual Assurance Society Limited

• London and Manchester Assurance Company Limited

• London and Manchester (Pensions) Limited

• London & Scottish Assurance Corporation Limited

• The London Assurance

• The London Life Association Limited

• The Manufacturers Life Insurance Company

• Marine and General Mutual Life Assurance Society

• Maritime Insurance Company Limited

• Medical Sickness Annuity & Life Assurance Society Limited

• The Mercantile and General Reinsurance Company plc

• Midland Assurance Limited

• The Motor Union Insurance Company Limited

• Minster Insurance Company Limited

• Municipal Life Assurance Limited

• Municipal Mutual Insurance Limited

• NALGO Insurance Association Limited

• National Employers' Life Assurance Company Limited

• National Employers' Mutual General Insurance Association Limited

• The National Farmers Union Mutual Insurance Society Limited

• National House-Building Council

• The National Insurance and Guarantee Corporation PLC

• The National Mutual Life Association of Australasia Limited

• National Mutual Life Assurance Society

• National Provident Institution

• National Vulcan Engineering Insurance Group Limited

• N.E.L. Pensions Limited

• The New Zealand Insurance plc

• North British & Mercantile Insurance Company Limited

• The Northern Assurance Company Limited

• Norwich Union Asset Management Limited

• Norwich Union Fire Insurance Society Limited

• Norwich Union Insurance Group (Pensions Management) Limited

• Norwich Union Life Insurance Society

• NRG London Reinsurance Company Limited

• Oaklife Assurance Limited

• The Ocean Accident & Guarantee Corporation Limited

• The Orion Insurance Company P.L.C.

• Pearl Assurance Public Limited Company

• Pensions Management (SWF) Limited

• Permanent Insurance Company Limited

• Phoenix Assurance Public Limited Company

• Pioneer Mutual Insurance Company Limited

• Property Growth Pensions & Annuities Limited

• Provident Life Association Limited

• Provident Mutual Life Assurance Association

• Provincial Insurance Public Limited Company

• Provincial Life Assurance Company Limited

• The Prudential Assurance Company Limited

• Railway Passengers Assurance Company

• Refuge Assurance, public limited company

• Regency Life Assurance Company Limited

• The Reliance Fire and Accident Insurance Corporation Limited

• The Reliance Marine Insurance Company Limited

• Reliance Mutual Insurance Society Limited

• Royal Exchange Assurance

• Royal Insurance Public Limited Company

• Royal Insurance (Int.) Limited

• Royal Insurance (U.K.) Limited

• Royal Life Insurance Limited

• Royal Life (Unit Linked Assurances) Limited

• Royal Life (Unit Linked Pension Funds) Limited

• The Royal London Mutual Insurance Society Limited

• The Royal National Pension Fund for Nurses

• Royal Reinsurance Company Limited

• Schroder Life Assurance Limited

• Scottish Amicable Life Assurance Society

• Scottish Equitable Life Assurance Society

• Scottish General Insurance Company Limited

• Scottish Insurance Corporation Limited

• The Scottish Life Assurance Company

• The Scottish Mutual Assurance Society

• The Scottish Provident Institution

• Scottish Union and National Insurance Company

• Scottish Widows' Fund and Life Assurance Society

• Sentinel Life plc

• Skandia Life Assurance Company Limited

• Standard Life Assurance Company

• Standard Life Pension Funds Limited

• The State Assurance Company Limited

• Suffolk Life Annuities Limited

• Sun Alliance and London Assurance Company Limited

• Sun Insurance Office Limited

• Sun Life Assurance Company of Canada

• Sun Life Assurance Society plc

• Target Life Assurance Company Limited

• Teachers Assurance Company Limited

• Trident Investors Life Assurance Company Limited

• Trident Life Assurance Company Limited

• Trinity Insurance Company Limited

• United British Insurance Company Limited

• United Friendly Insurance plc

• United Kingdom Temperance and General Provident Institution

• United Standard Insurance Company Limited

• The University Life Assurance Society

• The Victory Reinsurance Company Limited

• Wesleyan and General Assurance Society

• The Western Australian Insurance Company Limited

• The White Cross Insurance Company Limited

• World-Wide Reassurance Company Limited

• The Yorkshire Insurance Company Limited

• Zurich Life Assurance Company Limited

friendly societies

• The Ancient Order of Foresters Friendly Society

• Anglo-Saxons Friendly Society

• Blackburn Philanthropic Mutual Assurance Society

• British Benefit Society

• British Order of Ancient Free Gardeners' Friendly Society

• British United Order of Oddfellows Friendly Society

• Brunel Assurance Society

• Cirencester Benefit Society

• City of Glasgow Friendly Society

• Civil Servants' Annuities Assurance Society

• Colmore Friendly Society

• Coventry Assurance Society

• Dentists' Provident Society

• Devon and Exeter Men’s Equitable Benefit Society

• Devon and Exeter Women’s Equitable Benefit Society

• Grand United Order of Oddfellows Friendly Society

• The Hampshire and General Friendly Society

• Harvest Friendly Society

• Hazel Grove Provident Burial Society

• Hearts of Oak Benefit Society

• Hoddesdon Provident and Annuity Society

• The Ideal Benefit Society

• Independent Order of Oddfellows Kingston Unity Friendly Society

• The Independent Order of Odd Fellows Manchester Unity Friendly Society

• The Independent Order of Rechabites, Salford Unity, Friendly Society

• Leeds District of the Ancient Order of Foresters Investment Association

• Leek Assurance Collecting Society

• The Leicester District Foresters' Investment Society

• Liverpool Victoria Friendly Society

• The Loyal Order of Ancient Shepherds (Ashton Unity) Friendly Society

• Loyal Past and Present Officers' Lodge, Norwich District, Independent Order of Oddfellows M.U. Friendly Society

• The Manchester and Districts of the Ancient Order of Foresters Investment Association

• National Deposit Friendly Society

• National Equalized Druids Friendly Society

• National United Order of Free Gardeners Friendly Society

• New Tab Friendly Society

• Northumberland and Durham Miners' Permanent Relief Fund Friendly Society

• Nottingham Oddfellows Friendly Society

• Nottingham Permanent Mutual Money Society

• The Order of Druids Friendly Society

• The Order of the Sons of Temperance Friendly Society

• Original Holloway Society

• Pioneer Benefit Society

• Preston Catholic Collecting Society

• Preston Shelley Assurance Collecting Society

• Provident Reliance Friendly Society

• Rational and County Assurance Society

• Royal Liver Friendly Society

• Scottish Friendly Assurance Society

• The Scottish Legal Life Assurance Society

• Sons of Scotland Temperance Friendly Society

• Stepney District Distressed Members' Pension Benevolent Fund

• Suffolk Friendly Society

• The Sussex Widow and Orphans Society

• Teachers Provident Society

• Time Assurance Society

• Tunbridge Wells Equitable Friendly Society

• Tunstall and District Assurance Collecting Society

• United Ancient Order of Druids Friendly Society

• United Kingdom Civil Service Benefit Society

• United Patriots' National Benefit Society

• West Surrey General Benefit Society

• Widow and Orphan Fund of the Woolwich District of the Independent Order of Odd Fellows Manchester Unity Friendly Society

• Widow and Orphans' Fund, Stepney District of the Independent Order of Odd Fellows, Manchester Unity Friendly Society

• Widows' and Orphans' Society, Ware District of Odd Fellows

• Widow, Widowers and Orphans' Fund of the Godalming District of the Independent Order of Oddfellows, Manchester Unity, Friendly Society

• Wiltshire Holloway Benefit Society

charities

• The Central Board of Finance of the Church of England

• Church Commissioners

• The Church of England Pensions Board

• The Church of Scotland

• The Church of Scotland General Trustees

• Church of Scotland Trust

• Timber Trades Benevolent Society

• The Winchester Diocesan Board of Finance

• York Diocesan Board of Finance Limited

PART II

PART IIIbodies 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

• Lombard Home Loans Limited

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

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

• The National Home Loans Corporation Limited

• National Mutual Home Loans plc

• National Westminster Home Loans Limited

• Royal London Homebuy Limited

PART IVcreditors whose agreements are exempt under paragraph (b) of article 5, subject to the provisions of that paragraph

• A Federal Credit Union (as defined in the Federal Credit Union Act(19) of the United States of America of 26th June 1934)

• American Book Distributors Inc.

• American Express Bank Limited

Article 1(3)

SCHEDULE 2

Explanatory Note

(This note is not part of the Order)

This Order consolidates the Consumer Credit (Exempt Agreements) (No. 2) Order 1985 as amended, which provides that certain consumer credit and consumer hire agreements shall be exempt agreements for the purposes of the Consumer Credit Act 1974.

The Order provides that the following consumer credit agreements are exempt agreements:—

(a)certain agreements secured on land where the creditor is a building society, bank or body specified in Schedule 1 to the Order (Article 2);

(b)certain agreements where the number of payments to be made by the debtor does not exceed the number specified (Article 3);

(c)certain agreements where the rate of the total charge for credit is a rate which does not exceed the highest of the specified banks' base rate plus one per cent, or 13 per cent, whichever is the higher (Article 4);

(d)certain agreements having a connection with a country outside the United Kingdom or made between a U.S. Federal Credit Union and defined persons having a connection with the U.S. armed forces (Article 5).

The Order also provides that consumer hire agreements are exempt agreements where the owner is a body corporate authorised by statute to supply electricity or water and the subject of the agreement is a meter or metering equipment used in connection with that supply (Article 6).

Article 3(1)(a)(i) amends the previous Order to exempt agreements which are repaid by a maximum of 4 payments in a period not exceeding 12 months from the date of the agreement, and brings the provision into line with Council Directive 87/102/EEC (O.J. L42, 12.2.1987, p. 42).

Eleven further bodies are included in Schedule 1; one is deleted, and the names of two are amended.

Schedule 2 lists the Orders revoked by this Order.

The text of the Federal Credit Union Act referred to in Part IV of Schedule 1 is available for inspection by prior arrangement at the Department of Trade and Industry (Overseas Trade Division 2), 1 Victoria Street, London SW1H 0ET.