Related provisions for PERG 2.7.19N

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

(1) Where a firm is entitled to payments from the same customer in respect of two or more regulated agreements, the firm must allow the customer, on making any payment in respect of those agreements which is not sufficient to discharge the total amount then due under all the agreements, to appropriate the sum paid by him:(a) in or towards the satisfaction of the sum due under any one of the agreements; or(b) in or towards the satisfaction of the sums due under any two or more
(1) 2CONC 6.5 and CONC 6.7 apply to firms with respect to consumer credit lending.(2) CONC 6.3 applies to current account agreements that would be regulated credit agreements if the customer overdraws on the account.(3) CONC 6.4 and CONC 6.6 apply to firms which carry on consumer credit lending in relation to regulated credit agreements and firms which carry on consumer hiring in relation to regulated consumer hire agreements.(4) CONC 6.7.17 R to CONC 6.7.26 R also apply to firms
Where:(1) a customer offers a settlement payment lower than the total amount owing; or(2) a lender under a regulated credit agreement or an owner under a regulated consumer hire agreement decides to stop pursuing a customer in respect of a debt arising under the agreement;and the debt (or part of it) continues to exist notwithstanding the acceptance of the customer's offer or the decision to cease to pursue the debt, the lender or owner must ensure that the continuing existence
PERG 8.36.4GRP

Table Controlled investments


A deposit.


Rights under a contract of insurance.


Shares etc.


Instruments creating or acknowledging indebtedness (referred to in the Glossary as debentures and alternative debentures).9


Government and public securities.


Instruments giving entitlement to investments (referred to in the Glossary as warrants).


Certificates representing certain securities.


Units in a collective investment scheme.


Rights under a stakeholder pension scheme or a personal pension scheme2.






Contracts for differences etc.


Emission allowances


Lloyd's syndicate capacity and syndicate membership.


Funeral plan contracts


Agreements for qualifying credit


Rights under a home reversion plan.


Rights under a home purchase plan.


Rights under a regulated sale and rent back agreement 10


Rights under a relevant credit agreement (including rights under a paragraph 4C agreement)


Rights under a consumer hire agreement



Rights to or interests in anything falling under 1 to 143 above.

A firm must not pursue an individual whom the firm knows or believes might not be the borrower or hirer under a credit agreement or a consumer hire agreement.[Note: paragraph 3.5f of DCG]
CONC 7.15.9RRP
A firm must identify for prospective purchasers of debts arising under credit agreements or consumer hire agreements or P2P agreements those debts which it knows or ought reasonably to know are statute barred, so as to avoid a firm taking inappropriate action against customers in relation to such debts.[Note: paragraph 3.23c of DCG]
A firm must ensure that advice provided to a customer, whether before the firm has entered into contract with the customer or after, is provided in a durable medium and: (1) makes clear which debts will be included in any debt solution and which debts will be excluded from any debt solution; [Note: paragraph 3.38j of DMG](2) makes clear the actual or potential advantages, disadvantages, costs and risks of each option available to the customer, with any conditions that apply for
9The following activities are excluded from the regulated activity of credit broking:Introducing by individuals in the course of canvassing off trade premises(1) Activities carried on by an individual by canvassing off trade premises:(a) a restricted-use credit agreement to finance a transaction between the lender or a member of the lender's group and the borrower; or(b) a regulated consumer hire agreement;are excluded from credit broking, as long as the individual does not carry
1This chapter applies to a firm:(1) communicating with a client in relation to its designated investment business (other than MiFID, equivalent third country or optional exemption business)10;(1A) 10communicating with a client in relation to its MiFID, equivalent third country or optional exemption business;(2) communicating or approving a financial promotion other than:(a) a financial promotion of qualifying credit, a home purchase plan or a home reversion plan; or(b) a financial
(1) 6Paragraph (2) applies in relation to an individual who:(a) has provided, or is to provide, a guarantee or an indemnity (or both) in relation to a regulated credit agreement, a regulated consumer hire agreement or a P2P agreement; and (b) is not the borrower or the hirer.(2) If the individual is not a customer, they are to be treated as if they were a customer for the purposes of Principles 6 and 7.(3) For the purposes of this rule, a guarantee does not include a legal or
(1) The distance marketing rules in CONC 2.6, including the right to cancel in CONC 11, apply to firms with respect to distance contracts which are credit agreements, consumer hire agreements and agreements the subject matter of which comprises, or relates to, debt counselling, debt adjusting, providing credit information services and providing credit references. CONC 11 excludes various credit agreements from the right to cancel.(2) Where a consumer uses the right to cancel under
4Whether a credit agreement or consumer hire agreement is subject to the law of a country outside the United Kingdom is immaterial to whether an activity is credit broking, see PERG 2.7.7E G.
To be an eligible complainant a person must also have a complaint which arises from matters relevant to one or more of the following relationships with the respondent:122(1) the complainant is (or was) a customer,624payment service user3 or electronic money holder624 of the respondent;(2) the complainant is (or was) a potential customer,624payment service user3 or electronic money holder624 of the respondent;(2A) the complainant is (or was) a payer in a payment transaction in
(1) CONC 4.5.2 G applies to a firm with respect to consumer credit lending.(2) CONC 4.5.3 R and CONC 4.5.4 R apply to a firm with respect to credit broking in relation to:(a) regulated credit agreements; and(b) regulated consumer hire agreements.(3) CONC 4.5.3 R and CONC 4.5.4 R also apply to a firm carrying on the activities specified in article 36A(1)(a) or(c) of the Regulated Activities Order in relation to:(a) credit agreements that would be regulated credit agreements but