New Consumer Credit Order

United Kingdom

A new consumer credit order has been laid before Parliament to
come into force on 1st August 1999.

The Consumer Credit (Exempt Agreements) (Amendment)
Order 1999 was laid before Parliament on 9th July. The key
change is that the Order exempts the following type of
agreement:

a debtor-creditor agreement where the creditor is a credit union
and the total charge for credit is 12.7% or less.

For further details of the other provisions of the draft Order etc
please contact David McCahon on Tel: 0171 367 2984 or
e-mail [email protected]