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Credit Restriction

Volume 931: debated on Tuesday 10 May 1977

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asked the Secretary of State for Prices and Consumer Protection if he proposes to alter the credit restrictions imposed by the hire-purchase and hiring orders.

, pursuant to his reply [Official Report, 9th May 1977], gave the following information:—I laid orders yesterday which come into force on 1st June 1977 and amend the Hire-Purchase and Credit Sale Agreements (Control) Order and revoke and reproduce with modifications the Control of Hiring Order. These changes are mainly designed to correct anomalies and ease difficulties in the operation of the orders. Among them are provisions exempting from the controls hire-purchase, credit sale and hiring transactions entered into in the course of a trade or business carried on by the hirer or purchaser, extending the exemptions allowed to disabled persons and prohibiting the inclusion in hiring agreements and in related agreements of terms which transfer the property in the goods to any person.