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CONC 2.9 Prohibition of unsolicited credit tokens



This section applies to any firm.


  1. (1)

    A firm must not give a person a credit token if he has not asked for it.

    [Note: section 51 of CCA]

  2. (2)

    A request in (1) must be in a document signed by the person making the request, unless the credit-token agreement is a small borrower-lender-supplier agreement.

  3. (3)

    Paragraph (1) does not apply to the giving of a credit token to a person:

    1. (a)

      for use under a credit-token agreement already made; or

    2. (b)

      in renewal or replacement of a credit token previously accepted by that person under a credit-token agreement which continues in force, whether or not varied.


Section 51 of the CCA was repealed by article 20(15) of the Financial Services and Markets Act 2000 (Regulated Activities)(Amendment)(No 2) Order 2013 (SI 2013/1881). However, section 51 is saved for the purposes of regulation 52 of the Payment Services Regulations, the effect being that the section continues to apply in relation to a regulated credit agreement in place of regulation 58(1)(b) of the Payment Services Regulations.