S61(1)(a) CCA provides that, for a regulated agreement to be properly executed, it must contain all the prescribed terms of the agreement and conform to regulations under s60(1) – see Q1.14.
Reg 6(1) provides that the terms specified in Sch 6 to the Agreements Regulations are ‘prescribed terms’ for the purposes of s61(1)(a) and s127(3) – see Q8.2.
8.2 What if prescribed terms are missing or incorrect?
s127(3) provides that the court may not make an enforcement order unless a document containing all the prescribed terms of the agreement was signed by the debtor – see Q1.21.
If therefore any of the prescribed terms is missing, or incorrect, the agreement is not enforceable against the debtor, and the court is precluded from making an enforcement order.
8.3 What are the prescribed terms?
The prescribed terms specified in Sch 6 are as follows:
* amount of credit – see Q8.
* credit limit – see Q8.5
* repayments – see Q8.9.
* rate of
interest
– see Q8.6
Sch 6 was not amended by the 2004 Regulations.
Also check out Peter Bard's excellent thread on the subject:
http://www.consumeractiongroup.co.uk...ceability.html
Daughter v Lowells
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Re: Daughter v Lowells
Originally Posted by 8.1 What are ‘prescribed terms’?
