HL Deb 25 July 1974 vol 353 cc1887-9

[Nos. 4 to 24] :

Clause 9, page 4, line 15, at end insert—

"(1A) Where credit is provided otherwise than in sterling it shall be treated for the purposes of this Act as provided in sterling of an equivalent amount."

Clause 10, page 5, line 18, after "(iii)", insert "at the time the agreement is made".

Clause 11, page 5, line 22, leave out from "a" to "whether" in line 25 and insert—

"regulated consumer credit agreement—

(a) to finance a transaction between the debtor and the creditor".

Clause 11, page 5,line 31, at end insert—

"(1A) An unrestricted-use credit agreement is a regulated consumer credit agreement not falling within subsection (1), and "unrestricted-use credit" shall be construed accordingly."

leave out lines 39 to 41.

Clause 12, page 5, leave out lines 44 to 46 and lines 1 to 7 on page 6 and insert—

"being—

(a) a restricted-use credit agreement which falls within section 11(1)(b) but is not made by the creditor under pre-existing arrangements, or in contemplation of future arrangements, between himself and the supplier, or

(b) a restricted-use credit agreements which falls within section 11(1)(c), or

(c) an unrestricted-use credit agreement which is not made by the creditor under pre-existing arrangements between himself and a person (the "supplier") other than the debtor in the knowledge that the credit is to be used to finance a transaction between the debtor and the supplier."

Transfer Clause 12 to the end of line 18 on page 16.

Clause 13, page 6, leave out lines 10 to 18 and insert

"being—

(a) a restricted-use credit agreement which falls within section 11(1)(a), or

(b) a restricted-use credit agreement which falls within section 11(1)(b) and is made by the creditor under pre-existing arrangements or in contemplation of future arrangements, between himself and the supplier, or

(c) an unrestricted-use credit agreement which is made by the creditor under preexisting arrangements between himself and a person (the "supplier") other than the debtor in the knowledge that the credit is to be used to finance a transaction between the debtor and the supplier."

Clause 15, page 7, line 7, leave out from "(c)" to end of line 9 and insert "does not require the hirer to make payments exceeding £5,000".

Clause 16, page 7, line 13, leave out from "where" to end of line 14.

Clause 16, page 7,line 25, leave out from "Act" to end of line 31 and insert—

'(1A) Subsection (1) applies only where the agreement is—

(a) a debtor-creditor-supplier agreement financing—

  1. (i) the purchase of land, or
  2. (ii) the provision of dwellings on any land, and secured by a land mortgage on that land, or

(b) a debtor-creditor agreement secured by any land mortgage; or

(c) a debtor-creditor-supplier agreement financing a transaction which is a linked transaction in relation to—

(i) an agreement falling within paragraph (a), or

(ii) an agreement falling within paragraph (b) financing—

  1. (aa) the purchase of any land, or
  2. (bb) the provision of dwellings on any land, and secured by a land mortgage on the land referred to in paragraph (a) or, as the case may be, the land referred to in subparagraph (ii)'.

Clause 16, page 7,page 8, line 10, at end insert:"or

(c) an agreement has a connection with a country outside the United Kingdom'.

Clause 16, page 7,line 15, leave out "telecommunication services".

Clause 16, page 7,line 18, leave out from 'equipment' to end of line 20 and insert "or where the owner is the Post Office or the Kingston-upon-Hull City Council".

Clause 16, page 7,line 24, leave out '(d)' and insert "(c)".

Clause 17, page 8, line 33, after "a" insert "regulated".

line 36, after "(a)" insert "regulated".

Clause 16, page 7,line 36, leave out from "agreement" to end of line 37 and insert

"which does not require the hirer to make payments".

Clause 16, page 7,line 42, after "10(3)", insert "(a)".

Clause 18, page 9, line 44, after "rent", insert "(other than a rent-charge)".

Clause 19, page 10, line 5, after "agreement") ', insert "which it does not form part".

LORD JACQUES

My Lords, the Amendments to Part II of the Bill, which sets out its scope and closely defines particular types of transaction for the purposes of the Bill, in addition to a number of drafting Amendments to simplify and clarify the definitions contained in these clauses, are also some substantive provisions: first, a new subsection is added to Clause 9 to ensure that where credit is expressed in foreign currency, the agreement concerned is still covered by the Bill. Secondly, a new paragraph is added at subsection (4)(c) of Clause 16 to enable the Secretary of State, if it proves necessary, to exempt from the Bill United Kingdom agreements with a foreign connection, so as not to interfere with legitimate international trade. This is a matter which was discussed in this House and I am sure this Amendment will be welcomed.

My Lords, I beg to move that this House doth agree with the Commons in their Amendments Nos. 4 to 24.

Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Jacques.)

LORD ABERDARE

My Lords, I am grateful to the noble Lord. As he says, there is one Amendment—Amendment No. 15 on the list—which deals with international transactions, a matter which I raised at Committee stage. I am grateful to him for having put it into the Bill.

On Question, Motion agreed to.