Consumer Credit Act 1974 — full text by section

Consolidated text as published on legislation.gov.uk, snapshot 2026-08-24. Read the Act on legislation.gov.uk

265 sections. Default extent: E+W+S+N.I..

s.1General functions of OFT.
s.2Powers of Secretary of State.
s.3(no heading)
Omitted
s.4Dissemination of information and advice.
s.5Annual and other reports.
s.6Form etc. of applications.
s.6ACharge on applicants for licences etc.
s.7Penalty for false information.
s.8Consumer credit agreements.
s.9Meaning of credit.
s.10Running-account credit and fixed-sum credit.
s.11Restricted-use credit and unrestricted-use credit.
s.12Debtor-creditor supplier agreements.
s.13Debtor-creditor agreements.
s.14Credit-token agreements.
s.15Consumer hire agreements.
s.16Exempt agreements.
s.16AExemption relating to high net worth debtors and hirers
s.16BExemption relating to businesses
s.16CExemption relating to investment properties
s.17Small agreements.
s.18Multiple agreements.
s.19Linked transactions.
s.20Total charge for credit
s.21Businesses needing a licence.
s.22Standard and group licences.
s.23Authorisation of specific activities.
s.24Control of name of business.
s.24AApplications for standard licences
s.25Licensee to be a fit person.
s.25AGuidance on fitness test
s.26Conduct of business
s.27Determination of applications.
s.27AConsumer credit EEA firms
s.28Exclusion from group licence.
s.28ACharges to be paid by licensees etc. before end of payment periods
s.28BExtension of period to pay charge under s. 28A
s.28CFailure to pay charge under s. 28A
s.29Renewal.
s.30Variation by request.
s.31Compulsory variation.
s.32...revocation.
s.32APower to suspend licence
s.32BDuration of suspension
s.33Application to end suspension.
s.33APower of OFT to impose requirements on licensees
s.33BPower of OFT to impose requirements on supervisory bodies
s.33CSupplementary provision relating to requirements
s.33DProcedure in relation to requirements
s.33EGuidance on requirements
s.34Representations to OFT.
s.34ZARepresentations to OFT: suspension under section 32A
s.34AWinding-up of standard licensee's business
s.35The register.
s.36Duty to notify changes.
s.36AFurther duties to notify changes etc.
s.36BPower of OFT to require information generally
s.36CPower of OFT to require access to premises
s.36DEntry to premises under warrant
s.36EFailure to comply with information requirement
s.36FOfficers of enforcement authorities other than OFT
s.37Death, bankruptcy etc. of licensee.
s.38Application of s. 37 to Scotland and Northern Ireland.
s.39Offences against Part III.
s.39APower of OFT to impose civil penalties
s.39BFurther provision relating to civil penalties
s.39CStatement of policy in relation to civil penalties
s.40Enforcement of agreements made by unlicensed trader.
s.40AThe Consumer Credit Appeals Tribunal
s.41Appeals to First-tier Tribunal under Part III.
s.41ZATribunal Procedure Rules: suspension of OFT determinations
s.41ZBDisposal of appeals
s.41AAppeals from the Consumer Credit Appeals Tribunal
s.42(no heading)
Omitted
s.43Advertisements to which Part IV applies.
s.44Form and content of advertisements.
s.45Prohibition of advertisement where goods etc. not sold for cash.
s.46False or misleading advertisements.
s.47Advertising infringements.
s.48Definition of canvassing off trade premises (regulated agreements).
s.49Prohibition of canvassing debtor-creditor agreements off trade premises.
s.50Circulars to minors.
s.51Prohibition of unsolicited credit-tokens.
s.51ARestrictions on provision of credit card cheques
s....Section 51A: exemption for business
s.52Quotations.
s.53Duty to display information.
s.54Conduct of business regulations.
s.55Disclosure of information.
s.55APre-contractual explanations etc
s.55BAssessment of creditworthiness
s.55CCopy of draft consumer credit agreement
s.56Antecedent negotiations.
s.57Withdrawal from prospective agreement.
s.58Opportunity for withdrawal from prospective land mortgage.
s.59Agreement to enter future agreement void.
s.60Form and content of agreements.
s.61Signing of agreement.
s.61ADuty to supply copy of executed consumer credit agreement
s.61BDuty to supply copy of overdraft agreement
s.62Duty to supply copy of unexecuted agreement : excluded agreements.
s.63Duty to supply copy of executed agreement : excluded agreements.
s.64Duty to give notice of cancellation rights.
s.65Consequences of improper execution.
s.66Acceptance of credit-tokens.
s.66AWithdrawal from consumer credit agreement
s.67Cancellable agreements.
s.68Cooling-off period.
s.69Notice of cancellation.
s.70Cancellation: recovery of money paid by debtor or hirer.
s.71Cancellation: repayment of credit.
s.72Cancellation: return of goods.
s.73Cancellation: goods given in part-exchange.
s.74Exclusion of certain agreements from Part V.
s.74AInformation to be provided on a current account agreement
s.74BInformation to be provided on significant overdrawing without prior arrangement
s.75Liability of creditor for breaches by supplier.
s.75AFurther provision for liability of creditor for breaches by supplier
s.76Duty to give notice before taking certain action.
s.77Duty to give information to debtor under fixed-sum credit agreement.
s.77AStatements to be provided in relation to fixed-sum credit agreements
s.77BFixed-sum credit agreement: statement of account to be provided on request
s.78Duty to give information to debtor under running-account credit agreement.
s.78ADuty to give information to debtor on change of rate of interest
s.79Duty to give hirer information.
s.80Debtor or hirer to give information about goods.
s.81Appropriation of payments.
s.82Variation of agreements.
s.82AAssignment of rights
s.83Liability for misuse of credit facilities.
s.84Misuse of credit-tokens.
s.85Duty on issue of new credit-tokens.
s.86Death of debtor or hirer.
s.86AFCA to prepare information sheets on arrears and default
s.86BNotice of sums in arrears under fixed-sum credit agreements etc.
s.86CNotice of sums in arrears under running-account credit agreements
s.86DFailure to give notice of sums in arrears
s.86ENotice of default sums
s.86FInterest on default sums
s.87Need for default notice.
s.88Contents and effect of default notice.
s.89Compliance with default notice.
s.90Retaking of protected hire-purchase etc. goods.
s.91Consequences of breach of s. 90.
s.92Recovery of possession of goods or land.
s.93Interest not to be increased on default.
s.93ASummary diligence not competent in Scotland.
s.94Right to complete payments ahead of time.
s.95Rebate on early settlement.
s.95ACompensatory amount
s.95BCompensatory amount: green deal finance
s.96Effect on linked transactions.
s.97Duty to give information.
s.97ADuty to give information on partial repayment
s.98Duty to give notice of termination (non-default cases).
s.98ATermination etc of open-end consumer credit agreements
s.99Right to terminate hire-purchase etc. agreements.
s.100Liability of debtor on termination of hire-purchase etc. agreement.
s.101Right to terminate hire agreement.
s.102Agency for receiving notice of rescission.
s.103Termination statements.
s.104Goods not to be treated as subject to landlord’s hypothec in Scotland.
s.105Form and content of securities.
s.106Ineffective securities.
s.107Duty to give information to surety under fixed-sum credit agreement.
s.108Duty to give information to surety under running-account credit agreement.
s.109Duty to give information to surety under consumer hire agreement.
s.110Duty to give information to debtor or hirer.
s.111Duty to give surety copy of default etc. notice.
s.112Realisation of securities.
s.113Act not to be evaded by use of security.
s.114Pawn-receipts.
s.115Penalty for failure to supply copies of pledge agreement, etc.
s.116Redemption period.
s.117Redemption procedure.
s.118Loss etc. of pawn-receipt.
s.119Unreasonable refusal to deliver pawn.
s.120Consequence of failure to redeem.
s.121Realisation of pawn.
s.122Order in Scotland to deliver pawn.
s.123Restrictions on taking and negotiating instruments.
s.124Consequences of breach of s. 123.
s.125Holders in due course.
s.126Enforcement of land mortgages.
s.127Enforcement orders in cases of infringement.
s.128Enforcement orders on death of debtor or hirer.
s.129Time orders.
s.129ADebtor or hirer to give notice of intent etc. to creditor or owner
s.130Supplemental provisions about time orders.
s.130AInterest payable on judgment debts etc.
s.131Protection orders.
s.132Financial relief for hirer.
s.133Hire-purchase etc. agreements: special powers of court.
s.134Evidence of adverse detention in hire-purchase etc. cases.
s.135Power to impose conditions, or suspend operation of order.
s.136Power to vary agreements and securities.
s.137Extortionate credit bargains.
s.138When bargains are extortionate.
s.139Reopening of extortionate agreements.
s.140Interpretation of sections 137 to 139.
s.140AUnfair relationships between creditors and debtors
s.140BPowers of court in relation to unfair relationships
s.140CInterpretation of ss. 140A and 140B
s.140DAdvice and information
s.141Jurisdiction and parties.
s.142Power to declare rights of parties.
s.143Jurisdiction of county court in Northern Ireland.
s.144Appeal from county court in Northern Ireland.
s.145Types of ancillary credit business.
s.146Exceptions from section 145.
s.147Application of Part III.
s.148Agreement for services of unlicensed trader.
s.149Regulated agreements made on introductions by unlicensed credit-broker.
s.150Appeals to Secretary of State against licensing decisions.
s.151Advertisements.
s.152Application of sections 52 to 54 to credit brokerage etc.
s.153Definition of canvassing off trade premises (agreements for ancillary credit services).
s.154Prohibition of canvassing certain ancillary credit services off trade premises.
s.155Right to recover brokerage fees.
s.156Entry into agreements.
s.157Duty to disclose name etc. of agency.
s.158Duty of agency to disclose filed information.
s.159Correction of wrong information.
s.160Alternative procedure for business consumers.
s.160ACredit intermediaries
s.161Enforcement authorities.
s.162Powers of entry and inspection.
s.163Compensation for loss.
s.164Power to make test purchases etc.
s.165Obstruction of authorised officers.
s.166Notification of convictions and judgments to FCA.
s.167Penalties.
s.168Defences.
s.169Offences by bodies corporate.
s.170No further sanctions for breach of Act.
s.171Onus of proof in various proceedings.
s.172Statements by creditor or owner to be binding.
s.173Contracting-out forbidden.
s.174Restrictions on disclosure of information.
s.174APowers to require provision of information or documents etc.
s.175Duty of persons deemed to be agents.
s.176Service of documents.
s.176AElectronic transmission of documents
s.177Saving for registered charges.
s.178Local Acts.
s.179Power to prescribe form etc. of secondary documents.
s.180Power to prescribe form etc. of copies.
s.181Power to alter monetary limits etc.
s.182Regulations and orders.
s.183Determinations etc. by FCA .
s.184Associates.
s.185Agreement with more than one debtor or hirer.
s.186Agreement with more than one creditor or owner.
s.187Arrangements between creditor and supplier.
s.187ADefinition of ‘default sum’
s.188Examples of use of new terminology.
s.189Definitions.
s.189AMeaning of “consumer credit EEA firm ”
s.189BGreen deal plans
s.189CSection 189B: supplementary provision
s.189DSection 189B: temporary provision
s.190Financial provisions.
s.191Special provisions as to Northern Ireland.
s.192Transitional and commencement provisions, amendments and repeals.
s.193Short title and extent.