Consumer Credit Act 1974: Primary legislation governing consumer credit agreements in England and Wales. Essential if the line of credit is being offered to consumers rather than businesses.
Financial Services and Markets Act 2000: Fundamental legislation establishing the regulatory framework for financial services in the UK, including credit facilities.
Consumer Rights Act 2015: Key legislation protecting consumer rights in the UK, including provisions about unfair terms in consumer contracts and consumer credit agreements.
Unfair Contract Terms Act 1977: Legislation regulating unfair terms in contracts, particularly relevant for business-to-business agreements.
Enterprise Act 2002: Legislation affecting business practices and competition law, relevant for commercial credit agreements.
FCA Handbook - CONC: Consumer Credit Sourcebook - Detailed regulatory requirements for consumer credit activities regulated by the Financial Conduct Authority.
FCA Handbook - BCOBS: Banking Conduct of Business Sourcebook - Rules and guidance for banking and lending activities.
Financial Services (Distance Marketing) Regulations 2004: Regulations governing financial services contracts made at a distance, including online or telephone credit agreements.
UK GDPR and Data Protection Act 2018: Data protection legislation governing how personal information must be handled in credit agreements and related processes.
Money Laundering Regulations 2017: Regulations requiring credit providers to implement anti-money laundering checks and procedures.
Late Payment of Commercial Debts (Interest) Act 1998: Legislation governing interest charges on late payments in commercial transactions.
Law of Property Act 1925: Relevant when the line of credit is secured against property or involves real estate as collateral.
Insolvency Act 1986: Legislation governing what happens in case of borrower insolvency and the enforcement of credit agreements in insolvency situations.
Common Law Principles: Established case law principles regarding contract formation, enforcement, and interpretation in English law.
Consumer Contracts Regulations 2013: Regulations governing information requirements and cancellation rights in consumer contracts, including credit agreements.
