1998 No. 997
The Consumer Credit (Further Increase of Monetary Amounts) Order 1998
Made
Laid before Parliament
Coming into force
The Secretary of State, in exercise of the powers conferred on her by section 181(1) of the Consumer Credit Act 19741 and of all other powers enabling her in that behalf, hereby makes the following Order:—
1
This Order may be cited as the Consumer Credit (Further Increase of Monetary Amounts) Order 1998 and shall come into force on 1st May 1998.
2
The Consumer Credit (Increase of Monetary Amounts) Order 19832 is hereby revoked.
3
The provisions set out in Column 1 of the Schedule to this Order (shortly described in Column 2) are hereby amended by substituting for the amounts specified in Column 3 in relation to those provisions the amounts specified in Column 4.
SCHEDULEINCREASES OF MONETARY AMOUNTS IN CONSUMER CREDIT ACT 1974
Section of the Act | Short Description | Present Amount3 | New Amount |
---|---|---|---|
(1) | (2) | (3) | (4) |
70(6) | Upper limit for credit-broker’s fee or commission on cancelled regulated agreement | £3 | £5 |
77(1), 78(1) | Fee for information to debtor under regulated fixed-sum credit or running-account credit agreement | 50p | £1 |
79(1) | Fee for information to hirer under regulated consumer hire agreement | 50p | £1 |
84(1) | Upper limit of debtor’s liability for loss to creditor following misuse of credit-token | £50 | £50 |
101(7)(a) | Upper limit of annual hire payments for right of termination of regulated consumer hire agreement | £900 | £1,500 |
107(1), 108(1), 109(1) | Fee for information to surety under regulated fixed-sum credit, running-account credit or consumer hire agreement | 50p | £1 |
110(1) | Fee for copy of security instrument | 50p | £1 |
118(1)(b) | Upper limit for use of unsworn statement in place of lost pawn -receipt | £25 | £75 |
120(1)(a) | Upper limit of pawned property which passes to pawnee on failure to redeem within redemption period of 6 months | £25 | £75 |
155(1) | Upper limit for credit-broker’s fee or commission for services not leading to an agreement | £3 | £5 |
158(1) | Fee to credit reference agency for copy of file on individual | £1 | £2 |
(This note is not part of the Order)