ABSTRACT
Act 1974; n Office of Fair Trading’s powers to impose requirements on licensees and civil
penalties (ss 38-43 and ss 52-54 of the CCA 2006); n effects of unlicensed trading – s 40 of the Consumer Credit Act 1974 as amended
by s 26 of the Consumer Credit Act 2006; n criminal controls on false and misleading credit advertising – s 44 of the
Consumer Credit Act 1974 and the Consumer Protection from Unfair Trading Regulations 2008;
n pre-contract disclosure requirements – s 55 and ss 55A-C 1974;
INTRODUCTION This chapter deals with the common law and statutory provisions, both under the domestic law contained in the Consumer Credit Acts 1974-2006, and where relevant the EU Consumer Credit Directive 2008/48/EC relating to the advertising and marketing of credit, the position of credit-brokers if they do not hold a valid licence from the OFT, the making of a credit agreement, pre-contract disclosure and formalities, including coverage of the triangular scenario involving a customer, a garage and a finance company and cancellation of credit agreements.
