Consumer Credit Act 1974
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Change 1
96 Effect on linked transactions.
(1) Where for any reason the indebtedness of the debtor under a regulated consumer credit agreement is discharged before the time fixed by the agreement, he, and any relative of his, shall at the same time be discharged from any liability under a linked transaction, other than a debt which has already become payable. (2) Subsection (1) does not apply to a linked transaction which is itself an agreement providing the debtor or his relative with credit. (3) Regulations may exclude linked transactions of the prescribed description from the operation of subsection (1).
96 Effect on linked transactions.
(1) Where for any reason the indebtedness of the debtor under a regulated consumer credit agreement is discharged before the time fixed by the agreement, he, and any relative of his, shall at the same time be discharged from any liability under a linked transaction, other than a debt which has already become payable. (2) Subsection (1) does not apply to a linked transaction which is itself an agreement providing the debtor or his relative with credit. (3) Regulations may exclude linked transactions of the prescribed description from the operation of subsection (1).
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