Related provisions for CONC 5A.4.2

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

A firm must not facilitate an individual becoming a borrower under an agreement for high-cost short-term credit that provides for the payment by the borrower of one or more charges that, alone or in combination with any other charge under the agreement or a connected agreement, exceed or are capable of exceeding 0.8% of the amount of credit provided under the agreement calculated per day from the date on which the borrower draws down the credit until the date on which repayment
CONC 6.7.20RRP
Before a firm agrees to refinance high-cost short-term credit, it must: (1) give or send an information sheet to the customer; and(2) where reasonably practicable to do so, bring the sheet to the attention of the customer before the refinance;in the form of the arrears information sheet issued by the FCA referred to in section 86A of the CCA with the following modifications:(3) for the title and first two sentences 16 of the information sheet substitute:“High-cost short-term loansFailing
In this chapter: (1) "ancillary service" is a service in connection with the provision of credit under the agreement for high-cost short-term credit and includes, but not limited to, an insurance or payment protection policy;(2) "borrower" is an individual and includes: (a) any person providing a guarantee or indemnity under the regulated credit agreement; and (b) a person to whom the rights and duties of the borrower under the regulated credit agreement or of a person falling
The meaning of the expression "impose one or more charges on a borrower under an agreement for high-cost short-term credit" is set out in CONC 5A.6.1 R (5). The meaning of "impose" in relation to a charge in this chapter is broad and includes, but is not limited to, situations including where a firm:(1) enters into an agreement containing a clause obliging the borrower to pay a charge;(2) varies or supplements an agreement and this has the result that there is:(a) an increase