The definition of a regulated credit agreement is defined in Article 60b of the CEOS and is decisive in determining whether the concept of `regulated contract` within the meaning of CSF 1974(s) 189 includes both regulated credit agreements and regulated leases for consumers. This practice note describes what is meant by “credit” and “regulated credit agreement”, as well as the types of credit agreements that are “regulated credit agreements” and are therefore subject to their regulation. Regulated consumer leases are not taken into account. 2. As regards the current account, the `credit limit` applies, for any period, to the maximum debit balance that may be in the account under the credit agreement during that period, without taking into account any term of the contract allowing a temporary overrun of that maximum amount. Several factors must be taken into consideration in determining whether a credit agreement is governed by the regulatory framework of the Financial Services and Markets Act 2000 (FSMA 2000) and its secondary legislation, the Consumer Credit Act 1974 (CCA 1974) and its secondary legislation, and the rules and guidelines of the Financial Conduct Authority (FCA) Manual. including the Consumer Credit Sourcebook (CONC). There are a large number of detailed exceptions contained in the Financial Services and Markets Act (Regulated Activities) Order 2001, SI 2001/544 (RAO). The derogations apply depending on the nature of the consumer credit agreement and its main characteristics. It is therefore important to understand how the different types of consumer credit agreements covered by the FSMA 2000, the CCA 1974 and the subordinated legislation and regulations are recognised. (b) fixed-rate credit means any other facility under a consumer credit agreement enabling the debtor to obtain credit (in an amount or in instalments). (a) Current credit is a facility under a consumer credit agreement that allows the debtor to obtain, from time to time (whether in his own person or by another person), from the lender or a third party cash, goods and services (or any of them) of an amount or value that, taking into account the debtor`s payments or the debtor`s credit, is at no time the credit limit (if any) exceeded; and an ad hoc arbitration procedure is any arbitration procedure in which the parties have not chosen an institution to manage the arbitration. This provides the parties with flexibility in conducting the arbitration, but less external support for the process.
It may be faster than institutional arbitration, but not if (3) For the purposes of a provision of this Act that sets an amount, practical completion marks the end of the construction period of a project when the work is “completed” and the employer can occupy and/or use it. . . .