CONSUMER CREDIT Citation, commencement and interpretation 1 1 These Regulations may be cited as the Consumer Credit (Guarantees and Indemnities) Regulations 1983 and shall come into operation on 19th May 1985. 2 In these Regulations— “ the Act ” means the Consumer Credit Act 1974 ; “ guarantee ” does not include a mortgage, charge or pledge ; and “ lettering ” includes figures and symbols . Application of Regulations 2 These Regulations apply only to guarantees and indemnities provided on or after 19th May 1985 in relation to regulated agreements at the request (express or implied) of the debtor or hirer; and in these Regulations the expression “ security instrument ” means a document expressing the guarantee or indemnity in writing . Form and content of security instruments 3 1 Security instruments shall contain— a a heading shown prominently on the first page of the security instrument in one of the forms of words specified in Part I of the Schedule to these Regulations, as the case may require; b the information set out in Part II of the Schedule; c a statement of the rights of the surety in the Form specified in Part III of the Schedule; and d a signature box— i in Form 1 specified in Part IV of the Schedule where the regulated agreement in relation to which the guarantee is provided is a consumer credit agreement; or ii in Form 2 specified in Part IV of the Schedule where the regulated agreement in relation to which the guarantee is provided is a consumer hire agreement; or iii in Form 3 specified in Part IV of the Schedule where the regulated agreement in relation to which the indemnity, or the guarantee and indemnity, is provided is a consumer credit agreement; or iv in Form 4 specified in Part IV of the Schedule where the regulated agreement in relation to which the indemnity, or the guarantee and indemnity, is provided is a consumer hire agreement. 2 The wording of any Form prescribed by these Regulations shall be reproduced in security instruments without any alteration or addition, except that— a the words “the creditor” or “the owner” or the words and symbol “the creditor/owner” may be replaced by the name of the creditor or owner, by the expression by which the creditor or owner is referred to in the guarantee or indemnity or by an appropriate pronoun, and any consequential changes to pronouns may be made; b the words “the debtor” or “the hirer” or the words and symbol “the debtor/hirer” may be replaced by the name of the debtor or hirer and any consequential changes to pronouns and verbs may be made; and c every Form shall be completed in accordance with any footnote. 3 Any such footnote shall not be treated as part of any Form prescribed by these Regulations and may be reproduced in addition to any such Form. 4 Where any such footnote requires any words to be omitted, those words shall be omitted or deleted. 5 Where words are shown in capital letters in any Form prescribed in Parts III and IV of the Schedule to these Regulations and are reproduced in security instruments, they shall be afforded more prominence (whether by capital letters, underlining, large or bold print or otherwise) than any other lettering in that Form except lettering inserted in accordance with paragraph (2)(c) above and no less prominence than that given to any other information in the security instrument apart from the heading to the instrument, trade names, the names of the creditor or owner, of the debtor or hirer or of the surety, or lettering in the instrument inserted in handwriting. Legibility and signing of security instruments 4 1 The lettering of the terms of the security included in the document referred to in section 105(4)(a) of the Act and of the information contained in that document for the purpose of conforming to these Regulations shall, apart from any signature, be easily legible and of a colour which is readily distinguishable from the colour of the paper. 2 The signature of the said document shall be made by or on behalf of the surety in the space in the document indicated for the purpose. 3 Nothing in paragraph (2) above shall prohibit the inclusion in the said document, near to any such signature, of the signature by any witness outside any signature box in which the surety may sign. 4 In Scotland any provision in paragraph (2) above requiring the said document to be signed shall be complied with by a body corporate if the document is properly executed in accordance with the law of Scotland. Alexander Fletcher Parliamentary Under-Secretary of State Department of Trade and Industry 24th October 1983