Home FCA Handbook CONC CONC 2 CONC 2.9 Prohibition of unsolicited credit tokens
You are viewing CONC 2.9 Prohibition of unsolicited credit tokens as of . CONC 2.9 Prohibition of unsolicited credit tokens was last updated on 13/01/2018.

CONC 2.9 Prohibition of unsolicited credit tokens

Application

01/04/2014R

This section applies to any firm.

Prohibition

01/04/2014R
  1. (1)

    A firm must not give a person a credit token if he has not asked for it.

    [Note: section 51 of CCA]

  2. (2)

    A request in (1) must be in a document signed by the person making the request, unless the credit-token agreement is a small borrower-lender-supplier agreement.

  3. (3)

    Paragraph (1) does not apply to the giving of a credit token to a person:

    1. (a)

      for use under a credit-token agreement already made; or

    2. (b)

      in renewal or replacement of a credit token previously accepted by that person under a credit-token agreement which continues in force, whether or not varied.