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Old 01-10-2007, 03:16 PM
m55dlc
 
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Default Default Notice Period Change to 14 Days

I was under the impression that all default notices issued after the 1st of October 2006 had to offer 14 days as opposed to 7 given by the Consumer Credit Act 1974, but having re-read the legislation, this actually came into force on the 19th December 2006 and was brought in under the following SI:
Quote:
2006 No. 3094


CONSUMER CREDIT


The Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2006

Made 18th November 2006
Laid before Parliament 23rd November 2006
Coming into force 19th December 2006

The Secretary of State makes the following Regulations in exercise of the powers conferred on him by sections 88(1) and 182(2) of the Consumer Credit Act 1974[1]:

Citation, commencement and interpretation
1. This Order may be cited as the Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2006 and shall come into force on 19th December 2006.

Amendment of the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983
2. The Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983[2] shall be amended as follows.

3. In Schedule 2 in paragraphs 3(c), 3(d) and 6 for the words "not less than seven days" substitute "not less than fourteen days".


Ian McCartney
Minister of State for Trade, Investment and Foreign Affairs Department of Trade and Industry

18th November 2006
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Old 01-10-2007, 03:54 PM
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Dragonlady Dragonlady is offline
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Well spotted M55. This needs to be added to ever growing SI's that we need to bear in mind.
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