[A25 Restrictions on obtaining credit]

[Restrictions on transactions]

[A25  Restrictions on obtaining credit]

[(1)     During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.

(2)     The reference to the company obtaining credit includes—

(a)     the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,

(b)     the company entering into any other form of hire-purchase agreement under which goods are to be bailed (in Scotland, hired) to the company, and

(c)     the company

Popular documents