S.I. No. 277/1996:

EUROPEAN COMMUNITIES (CONSUMER CREDIT ACT, 1995) (AMENDMENT) REGULATIONS, 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.