Enforcement of agreements made by unlicensed trader
170. In section 40 of the Consumer Credit Act 1974 (enforcement of agreements made by unlicensed trader), after subsection (5) insert—
“(6) This section does not apply to a regulated agreement, other than a non-commercial agreement, made by a consumer credit EEA firm unless at the time it was made that firm was precluded from entering into it as a result of—
(a)a consumer credit prohibition imposed under section 203 of the Financial Services and Markets Act 2000; or
(b)a restriction imposed on the firm under section 204 of that Act.”.