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  1. Point in time
    2016-07-17

SUP 8A.1 Application, purpose and interpretation

SUP 8A.1.1DRP

1This chapter applies to every firm which:

  1. (1)

    is subject to the requirements as to the form and content of regulated agreements under the Consumer Credit (Agreements) Regulations 1983 (SI 1983/1553) and the Consumer Credit (Agreements) Regulations (SI 2010/1014) made under section 60(1) of the CCA that wishes to apply for a direction from the FCA waiving or varying those requirements;

  2. (2)

    is subject to the requirement under section 64(1)(b) of the CCA to send debtors or hirers a notice of their rights to cancel a cancellable agreement within the seven days following the making of that agreement that wishes to apply for a determination by the FCA that that requirement can be dispensed with; and

  3. (3)

    wishes to apply for a direction from the FCA that the hirer's rights to terminate a regulated consumer hire agreement under section 101 of the CCA do not apply to regulated consumer hire agreements made by that firm.

SUP 8A.1.2GRP

This chapter explains how the regime works for obtaining:

  1. (1)

    a direction from the FCA waiving or varying the requirements as to the form and content of regulated agreements under the Consumer Credit (Agreements) Regulations 1983 (SI 1983/1553) and the Consumer Credit (Agreements) Regulations (SI 2010/1014) made under section 60(1) of the CCA;

  2. (2)

    a determination by the FCA that the requirement under section 64(1)(b) of the CCA to send debtors or hirers a notice of their rights to cancel a cancellable agreement within the seven days following the making of that agreement can be dispensed with; and

  3. (3)

    a direction from the FCA that the hirer's rights to terminate a regulated consumer hire agreement under section 101 of the CCA do not apply to regulated consumer hire agreements made by the relevant firm.

SUP 8A.1.3GRP

Unless italicised, and except where the contrary intention appears, expressions used in this chapter have the same respective meanings as in the CCA.