Latest news (inc Stakeholder Notices)
On 1 October 2008, the final provisions of the Act were brought into force – these relate to post contract transparency, time orders and new licensing categories of credit information and debt administration services.
On 20 November 2008 BERR issued a Policy Statement on the requirement to send post-contract information to customers who have either "gone away" or agreed to an Individual Voluntary Arrangement (IVA).
Stakeholder Notices
We expect to publish a final Notice in late October in relation to the LRO.
October 2008 - Consumer Credit Act 2006, Legislative Reform (Consumer Credit) Order 2008, Post-contract information requirements – gone aways and IVAs, OFT consultation on scoping of irresponsible lending project
September 2008 - Legislative Reform (Consumer Credit) Order 2008, post-contract information requirements and the Consumer Credit Register.
August 2008 - Legislative Reform (Consumer Credit) Order 2008, Post-contract information requirements, OFT guidance.
July 2008 - Information Requirement amendment regulations and OFT guidance.
June 2008 - Draft Legislative Reform (Consumer Credit) Order 2008, Information Requirement amendment regulations and OFT guidance.
April 2008 - Provisions entering into force on 6 April 2008 and 4th Commencement Order.
March 2008 - Draft amendments to the Information Requirements regulations and the Consumer Credit Appeals Tribunal
February 2008 - Current consultations, 4th Commencement Order, and OFT General Notices (under CCA 06)
January 2008 - OFT guidance, OFT information sheets and current consultations
November 2007 – Third Commencement Order; proposed LRO consultation
April 2007 – SIs covering: exemptions; post-contract transparency and licensing; the FOS scheme and the Unfair Relationships Test.
March 2007 - SIs consultation response and PricewaterhouseCoopers’ report.
February 2007 - Delay to consultation response.
December 2006 - Transitional arrangements for unfair relationships; new definition of individual and deceased and gone away.
June 2006 - First Commencement Order