Consumer Credit

Abstract

The Act establishes for the protection of consumers a new system, administered by the Director General of Fair Trading, of control of traders concerned with the provision of credit, or the supply of goods on hire or hire-purchase, and their transactions. This comprehensive new system is designed to replace previous legislation regulating moneylenders, pawn-brokers and hire-purchase traders and their transactions. Although the Act is not fully in force, this chapter describes the salient features of the system as it will be when completely established.