S.I. No. 277/1996 - European Communities (Consumer Credit Act, 1995) (Amendment) Regulations, 1996
S.I. No. 277 of 1996. | ||
EUROPEAN COMMUNITIES (CONSUMER CREDIT ACT, 1995) (AMENDMENT) REGULATIONS, 1996 | ||
I, RICHARD BRUTON, Minister for Enterprise and Employment, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972), and for the purposes of giving further effect to Council Directive No. 87/102/EEC of 22 December 19861, as amended by Council Directive No. 90/88/EEC of 22 February 19902, hereby make the following regulations: | ||
1O.J. No. L42, 12.2.87, p48 | ||
2O.J. No. L61, 10.3.90, p14 1. These Regulations may be cited as the European Communities ( Consumer Credit Act, 1995 ) (Amendment) Regulations, 1996. 2. The Consumer Credit Act, 1995 (No. 24 of 1995), is hereby amended— | ||
(a) by the substitution in the definition of "credit" contained in section 2(1) for ", or any other form of financial accommodation" of "or other similar financial accommodation", and | ||
(b) by the substitution in section 3(1) for "Subject to subsections (2) and (3)," of "Subject to this Act,". | ||
GIVEN under my Official Seal, this 23rd day of September, 1996. | ||
RICHARD BRUTON | ||
Minister for Enterprise and Employment. | ||
EXPLANATORY NOTE. | ||
The amendment to the definition of "credit" as contained in section 2(1) and to section 3 (1) of the Consumer Credit Act, 1995 bring the Act into line with the aims of Council Directive 87/102/EEC. |