Q&As

Where a director of a company offers a legal charge on his residential property as security for a repayment plan for monies due under an asset purchase agreement, would the security fall foul of FSMA 2000 and/or Consumer Credit Act? Would the charge be enforceable if the director failed to repay the sums due as agreed?

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Published on LexisPSL on 09/11/2016

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • Where a director of a company offers a legal charge on his residential property as security for a repayment plan for monies due under an asset purchase agreement, would the security fall foul of FSMA 2000 and/or Consumer Credit Act? Would the charge be enforceable if the director failed to repay the sums due as agreed?

Where a director of a company offers a legal charge on his residential property as security for a repayment plan for monies due under an asset purchase agreement, would the security fall foul of FSMA 2000 and/or Consumer Credit Act? Would the charge be enforceable if the director failed to repay the sums due as agreed?

No person may carry on financial services regulated activities ‘by way of business’ in the UK unless he is an

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