CCA meaning

This Checklist sets out core topics for firms entering consumer credit, addressing essential management and compliance matters within the Financial Conduct Authority (FCA) framework. It organises themes such as authorisation, threshold conditions, the Senior Managers and Certification Regime (SM&CR), systems and controls, business planning, FCA Principles, the Consumer Duty and continuing regulatory duties, including adherence to the Consumer Credit sourcebook (CONC) and the Consumer Credit Act 1974 (CCA 1974). For fuller guidance, including how the application process works, see Practice Note: FCA authorisation of consumer credit firms. Scope and regulatory status Do the firm’s activities amount to regulated consumer credit activities under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), and the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO)? See Practice Notes: The general prohibition and implications of its breach and Regulated activities relating to consumer credit Does the firm offer (or plan to offer) buy now pay later (BNPL)/deferred payment credit (DPC) style products?...

A deferred prosecution agreement (DPA) A DPA is a negotiated agreement between an organisation and a designated prosecutor, allowing the latter to defer a prosecution by staying an indictment on set conditions. Whilst the DPA remains in force, no proceedings relating to the covered matters may be brought against the organisation. Consequently, a company can continue operating without a protracted criminal investigation or an expensive prosecution hanging over it. For detailed information on DPAs, see the Practice Notes below: Deferred prosecution agreements DPA process Terms and content of a DPA DPAs in practice DPAs are only available to organisations for the offences specified in the Crime and Courts Act 2013, Schedule 17 (CCA 2013). The checklist below lists the offences for which a DPA may be entered into, covering both common law and statutory offences. In addition, any offence that is ancillary to those offences is eligible for disposal by a DPA. Ancillary offences include aiding and abetting, or...

The government has also tabled draft legislation in Parliament. Once the statutory instrument (SI) is approved, BNPL products will be regulated 12 months after the SI is made. Lenders should expect the framework in force by end-2026. Although the policy trajectory is set, several key points remain unresolved. Key aspects of BNPL Regime Going forward, regulated BNPL agreements will be called regulated deferred payment credit agreements—deferred payment credit, or DPC. Scope In a boost for merchants, BNPL will be regulated only where a third-party lender is involved. An anti-avoidance measure tackles reseller-style models: where a lender buys the goods and resells them as the merchant, the deal is regulated, not exempt. Most merchants offering DPC will not need FCA authorisation as credit brokers. Unauthorised merchants must have financial promotions approved by an authorised firm—usually the third-party lender, if it holds the relevant permission. The broking exclusion does not currently extend to domestic premises suppliers; this remains under review after late-stage...

Farol Holdings Ltd and others v Clydesdale Bank plc and National Australia Bank [2024] EWHC 593 (Ch) What are the practical implications of this case? This decision once more underscores, quite starkly, the obstacles borrowers encounter when pursuing misrepresentation actions against banks in court in the absence of regulatory safeguards or oversight. On the construction issue, Zacaroli J was significantly swayed by the proposition that, as recompense for borrowers ending their loans prematurely, the bank is entitled to recover the full ‘lost bargain’ value: the fixed interest it would have earned across the unbroken term, less the market floating rate available on the break date. As a stand‑in for that amount, the judge adopted the mark‑to‑market figure of the back‑to‑back hedges Clydesdale executed with its related entity, National Australia Bank (NAB). A notable oddity of this reasoning is that it leaves the borrowers’ contractual option to terminate early with meagre worth, and in practice treats them as ordinary contract breakers; as though they had entered interest rate swaps....

Court of Justice rules on Czech reference concerning omission of hotel occupancy in copyright royalty tariffs and possible breach of Article 102 TFEU The Court of Justice has delivered its judgment in Case C‑161/24, OSA, arising from a Czech reference seeking clarification on whether a collective management organisation’s failure to take account of hotel room occupancy when setting royalties for licensed works can amount to an abuse of a dominant position under Article 102 TFEU. The Court held that, depending on the particular circumstances, overlooking hotel occupancy may constitute an abuse within the meaning of Article 102 TFEU. Background In December 2019, the Czech Competition Authority (CCA) found that OSA, the Czech collective management organisation for musical and other artistic works, had abused its dominant position in the market for copyright licensing. Between 2008 and 2014, OSA applied flat‑rate royalties to hotel operators for audio and audiovisual works made available via in‑room television and radio equipment, without reflecting actual room occupancy. The CCA concluded that this pricing...

For guidance on what deferred prosecution agreements (DPAs) are and how they work, see Practice Note: Deferred prosecution agreements, which explains their operation. In what circumstances can a DPA be varied? The statutory power to amend a DPA sits squarely in paragraph 10 of Schedule 17 to the Crime and Courts Act 2013 (CCA 2013) itself. A DPA may require alteration in two situations: where the court invites the parties to vary the DPA under CCA 2013, Sch 17 Pt 1, para 9(3)(a), namely where the organisation has breached the agreement and the court wants the parties to put forward proposals to cure the organisation’s non-compliance, by agreement between the parties as invited by the court, accordingly (see Practice Notes: Financial penalties as a term of a DPA—Late payment and breach of a DPA and Breach of a DPA) where a variation is required to prevent the organisation failing to comply with its obligations in circumstances that were not, and could not reasonably...

ARCHIVED: This Practice Note has been archived and is no longer maintained. This tracker tool collates and outlines significant recent and forthcoming legislation in England and Wales, alongside consultations connected to climate action and emissions reduction goals. Under the Climate Change Act 2008 (CCA 2008), as amended by the Climate Change Act 2008 (2050 Target Amendment) Order 2019 SI 2019/1056, the UK is legally bound to cut greenhouse gas (GHG) emissions by at least 100% from 1990 levels—achieving net zero—by 2050. There are also interim milestones: a 68% cut in GHG emissions from 1990 levels by 2030—set through the UK’s updated Nationally Determined Contribution (NDC) under the Paris Agreement (this excludes emissions from international aviation and shipping) a 78% cut in GHG emissions from 1990 levels by 2035—established via the UK’s sixth carbon budget These targets have spurred swift changes across recent energy and environmental policy and law. Retained EU law (REUL) refers to EU-derived rights and legislation...

ARCHIVED: This Practice Note has been archived and is not maintained. This tracker brings together and summarises key new and upcoming legislation in England and Wales, alongside consultations related to climate action and emissions reduction objectives. Pursuant to the Climate Change Act 2008 (CCA 2008), as amended by the Climate Change Act 2008 (2050 Target Amendment) Order 2019 SI 2019/1056, the UK is under a statutory duty to reduce greenhouse gas (GHG) emissions by at least 100% from 1990 levels—reaching net zero—by 2050. Further, the UK has the following interim targets: a 68% reduction in GHG emissions on 1990 levels by 2030—set via its updated Nationally Determined Contribution (NDC) under the Paris Agreement (although the target does not include emissions from international aviation and shipping) a 78% reduction in GHG emissions on 1990 levels by 2035—set via the UK’s sixth carbon budget These targets have driven swift developments in recent energy and environmental policy and legislation. Retained EU law...

In the County Court at [ insert ], under Claim No: [ insert claim number ], between A B as Claimant and X Y as Defendant PARTICULARS OF CLAIM At every relevant time, the Claimant owned and was driving a [ insert make and model of vehicle ], bearing registration [ insert registration number ]. The Defendant likewise was the owner and driver of a [ insert make and model of vehicle ], registration mark [ insert registration number ]. On [ insert date ], the Claimant was lawfully travelling along [ insert street name, town, county ]. Whilst the Claimant continued on that route, the Defendant’s vehicle, approaching from the opposite direction in the other lane, sought to pass a stationary car in that lane and moved across into the Claimant’s lane...

There are a number of points to weigh up when determining if a consumer credit agreement is regulated by the Consumer Credit Act 1974 (CCA 1974). Under the CCA 1974, s 8(1), a consumer credit agreement is described as an agreement between an individual (“the debtor”) and any other person (“the creditor”) whereby the creditor extends credit of any amount...

The provisions relating to notices of sums in arrear (NOSIAs) Sections 86B–86D of the Consumer Credit Act 1974 (CCA 1974) set out the rules on notices of sums in arrear (NOSIAs). CCA 1974, s 86B deals with NOSIAs for fixed-sum credit agreements, etc, and CCA 1974, s 86C deals with NOSIAs for running-account credit agreements...

Interest on judgment debts Judgment debts accrue simple interest at 8% per annum until paid, unless the court decides otherwise. By default, interest runs from the date judgment is given, unless the court, a rule or a Practice Direction provides differently. The court may order interest to run from a date before judgment. For further guidance, see Practice Note: Interest on judgment debts, together with the following Practice Notes: County Court judgments and orders—additional matters Which enforcement of judgment method should I choose?—in particular, the section: Which enforcement of judgment method should I choose?—In which court should you enforce your judgment—practical considerations Transferring a judgment from the High Court to a Country Court CPR 70.3 makes provision for transfer of proceedings in question, and states that an application must be made to the High Court before an order permitting the transfer of the proceedings will be granted by the court...