STATUTORY INSTRUMENTS.

S.I. No. 392 of 1999.

CONSUMER CREDIT ACT, 1995 (SECTION 2) (NO. 2) REGULATIONS, 1999

S.I. No. 392 of 1999.

CONSUMER CREDIT ACT, 1995 (SECTION 2) (NO. 2) REGULATIONS, 1999

I, TOM KITT, Minister of State at the Department of Enterprise, Trade and Employment, in exercise of the powers conferred on me by section 2(1) of the Consumer Credit Act, 1995 (No. 24 of 1995) (as adapted by the Enterprise and Employment (Alteration of Name of Department and title of Minister) Order, 1997 ( S.I. No. 305 of 1997 )), and the Enterprise, Trade and Employment (Delegation of Ministerial Functions) (No. 2) Order, 1997 ( S.I. No. 330 of 1997 ), hereby make the following Regulations:

1. These Regulations may be cited as the Consumer Credit Act, 1995 (section 2) (No. 2) Regulations, 1999.

2. The definition of “credit institution” contained in section 2(1) of the Consumer Credit Act, 1995 (No. 24 of 1995) , shall include Open + Direct Retail Services Limited:

Provided that the APR charged by such persons in respect of any credit granted to a consumer is less than 23 per cent.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations further supplement the definition of “credit institution” in the Consumer Credit Act, 1995 .