The Department for Business Innovation and Skills (BIS) has published the latest issue of its CCD Bulletin. In this CCD Bulletin the BIS briefly describes its work on transposing the Consumer Credit Directive (CCD) into UK law during the period October 2009 to February 2010.
In this period draft regulations implementing the CCD were submitted to Parliamentary Counsel for scrutiny, and the Government’s response to its policy consultation was published.
The BIS has also reached a decision on timing. The BIS has decided that there should be a transitional period from June 2010 to 31 January 2011 during which lenders can move from the old to the new consumer credit regime. Any agreements entered into from 1 February 2011 must comply with the new requirements.
View CCD Bulletin October 2009 - February 2010, 12 February 2010