INITIAL AND SUBSEQUENT COST OF CREDIT ARRANGEMENTS

HC Deb 13 June 1989 vol 154 c841

Amendment made: No. 91, in page 49, line 22, at end add— `(5) In the application of this section to a credit arrangement which consists, in whole or in part, of a contract, the consideration under which falls within subsection (7) of section 40 above,—

1. (a) if the credit arrangement exists only on the basis of one of the assumptions in that subsection, the local authority shall make that assumption for the purposes of this section; and
2. (b) if the credit arrangement would exist on the basis of any two or more of those assumptions, the authority shall for the purposes of this section make whichever of those assumptions seems to them most likely.'. —[Mr. Gummer.]