[137C FCA general rules: cost of credit and duration of credit agreements]
[137C FCA general rules: cost of credit and duration of credit agreements]

[(1)     The power of the FCA to make general rules includes power to make rules prohibiting authorised persons from—

(a)     entering into a regulated credit agreement that provides for—

(i)     the payment by the borrower of charges of a specified description, or

(ii)     the payment by the borrower over the duration of the agreement of charges that, taken with the charges paid under one or more other agreements which are treated by the rules as being connected with it, exceed, or are capable of exceeding, a specified amount;

(b)     imposing charges of a specified description or exceeding a specified amount on a person who is the borrower under a regulated credit agreement;

(c)     entering into a regulated credit agreement that—

(i)     is capable of remaining in force after the end of a specified period,

(ii)     when taken with one or more other regulated credit agreements which are treated by the rules as being connected with it, would be capable of remaining in force after the end of a specified period, or

(iii)     is treated by the rules as being connected with a number of previous regulated credit agreements that exceeds a specified maximum;

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