Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Agreement definition

What does Agreement mean? In competition law practice, an agreement is any form of coordination between undertakings that shows a meeting of minds about market conduct (for example pricing, output, customers or territories). It is not limited to a legally enforceable contract: it includes informal or “gentlemen’s” understandings, oral arrangements, email exchanges and tacit understandings, and extends to decisions of associations of undertakings. Mere parallel conduct is insufficient without evidence of contact or communication. The term is used in legislation and developed by case law: Article 101 TFEU, section 4 of Ireland’s Competition Act 2002, and the UK Chapter I prohibition in the Competition...

Withdrawal from UK regulated consumer credit agreements: CCA 1974 s66A scope, 14-day notice and service, consequences (repayment, ancillary services, hire-purchase), and P2P agreements under FCA CONC 11.2

Published by a LexisNexis Financial Services expert

Practice notes

In some situations, borrowers can step away from agreements covered by the Consumer Credit Act 1974 (CCA 1974) within 14 days. This Practice Note sets out when that withdrawal right arises and how to use it in practice. It clarifies availability and the steps to take in detail. It also looks at parallel provisions for P2P agreements contained in the Consumer Credit sourcebook (CONC) too.

Introduction

The withdrawal right for regulated agreements is anchored in CCA 1974, s 66A, which transposed the EU Consumer Credit Directive (2008/48/EC). Two preliminary points deserve emphasis at the outset. First, the substance of this right has remained largely unchanged since responsibility for consumer credit was assumed by the Financial Conduct Authority (FCA) in April 2014, following the transfer of functions. Nevertheless, alterations to the framework are anticipated, so readers should stay alert to legal developments (see: Consumer credit—essentials—Reform of the FCA consumer credit regime). Second, withdrawal is distinct from cancellation. Although each appears to let a consumer ‘back out’ after signing a credit agreement, they operate separately and cannot overlap. For guidance on cancelling under the CCA 1974, see Practice Note: Cancellation and withdrawal provisions for consumer credit and hire agreements.

Application

The right...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

George Mallet

Henderson Chambers

George is a leading junior with specialisms across the civil litigation spectrum. He regularly represented clients at all levels including as sole advocate in the High Court. He has appeared in both the Court of Appeal and Supreme Court. He has particular expertise in product liability claims, banking matters and group actions. He is regularly instructed by major banks, government departments and FTSE 100 companies.George specialises in complex and fact heavy products litigation. He successfully represented the Department of Health in a claim regarding defective COVID-19 PCT testing equipment ([2024] EWHC 1071 (TCC)) and vaccinations. He has represented FTSE listed manufacturers in claims regarding manufacturing and/or design defects in relegation to engineering products ([2020] EWHC 3404 (TCC)), food products, vehicle claims and agricultural/machinery matters.As Junior Counsel to the Crown (B Panel), George represents major governmental departments, including with respect to...

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...