HL Deb 25 July 1974 vol 353 cc1892-4

[Nos. 57 to 78.]

Clause 55, page 27, leave out lines 13 to 16.

Clause 57, page 28, line 18, leave out subsection (3).

Clause 60, page 29, line 19, at end insert '(in the case of a consumer credit agreement)'.

Clause 60, page 29,line 39, leave out 'waive or vary the requirement' and insert 'direct that the requirement be waived or varied'.

Clause 61, page 30, line 33, leave out (1) and insert (2).

Clause 68, page 33, line 25, after 'if', insert '(by virtue of regulations made under section 64(4))'.

Clause 69, page 33, line 41, at end insert—

'(1A) In the case of a debtor-creditor supplier agreement for restricted-use credit financing—

(a) the doing of work or supply of goods to meet on emergency, or

(b) the supply of goods which before service of the notice of cancellation, had by the act of the debtor or his relative become incorporated in any land or thing not comprised in the agreement or any linked transaction, subsection (1) shall apply with the substitution of the following for paragraph (i)—

"(i) to cancel only such provisions of the agreement and any linked transaction as—

(aa) relate to the provision of credit, or

(bb) require the debtor to pay an item in the total charge for credit, or

(cc) subject the debtor to any obligation other than to pay for the doing of the said work, or the supply of the said goods".

(1B) Except so far as is otherwise provided, references in this Act to the cancellation of an agreement or transaction do not include a case within subsection (1A).'

Clause 70, page 35, line 6, leave out from '71' to end of line 10.

leave out lines 14 to 17.

Clause 70, page 35,line 26, at end insert—

'(9) So far only as is necessary to give effect to section 69(1A), this section applies to an agreement or transaction within that subsection as it applies to a cancelled agreement or transaction.'

Clause 71, page 35, line 27, at end insert 'consumer credit'.

Clause 71,line 31, after 'regulated', insert 'consumer credit'.

Clause 71,line 1, leave out 'calculated' and insert 'recalculated by the creditor'.

Clause 71,line 6, leave out 'or tendered'.

Clause 72, page 37, line 22, at end insert—

'(aa) goods which by their nature are consumed by use and which, before the cancellation, were so consumed, or'.

Clause 72, page 37,line 24, leave out "were consumed or".

leave out lines 28 and 29.

Clause 74, page 39, line 4, leave out 'conferring on the debtor the right' and insert 'enabling the debtor'.

Clause 74, page 39,line 5, at end insert 'or—

(c) a debtor-creditor agreement to finance the making of such payments arising on, or connected with, the death of a person as may be prescribed.'.

Clause 74, page 39,line 8, after '(1)(b)' insert 'or (c)'.

Clause 74, page 39,line 12, leave out "not be made unless" and insert "be made only if".

Clause 74, page 39,line 13, leave out from ' debtors ' to end of line 14.

Clause 74, page 39,line 16, after '(1)(b)' insert 'or (c)'.

Clause 74, page 39,line 19, after '(1)(b)' insert 'or (c)'.

LORD JACQUES

My Lords, Part V of the Bill is concerned with entry into credit and hire agreements. There are two Amendments which will be of interest to this House. We are concerned here with the cooling off period during which the debtor or hirer can give written notice of withdrawal from the agreement. It was provided in the original Bill that his withdrawal was effective from the date of posting it, if post was used. The Amendment provides that withdrawal by post by either party to an agreement shall take effect at the time it is received by the other party. This is a matter which was raised in this House, and I am sure that the House will welcome this Amendment.

The second point to which I wish to direct the attention of the House is concerned also with cancellations during the cooling off period. It will be recollected that during the cooling off period the debtor or hirer could cancel the agreement and would not have to return the goods or pay for them. Two new subsections have been added to Clause 69 to deal with cases where a debtor cancels a credit agreement after the goods to which it relates have been supplied to meet an emergency or after he himself has fixed them to land and buildings or something else so that they cannot be returned. The effect of the Amendment is that the debtor will have to pay for the goods, although he will not have to pay the charge for the credit. These are the important points in this section of the Bill and I beg to move that this House doth agree with the Commons in their Amendments Nos. 57 to 78.

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

On Question, Motion agreed to.