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REGULATED PARTY

The Consumer Credit Act (CCA) is the legislation that protects the rights of consumers and sets out how financial services firms must deal with parties subject to the legislation.

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This legislation determines how firms that lend money or offer goods and services on credit conduct their business and advertise those products, as well as requiring them to be licensed by the Financial Conduct Authority (FCA).

 

A party that is subject to the protections provided by the CCA is defined as a Regulated Party Regulated Party’s include:

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a) Individuals (people) which would include individuals acting as trustees.

b) Sole traders.

c) Partnerships (not including body corporates as partners) where there are three or less partners.

d) Unincorporated bodies (such as clubs) where their members are not entirely made up of corporations and therefore includes one or more individuals.

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A financial transaction between one of these parties and a lender would be classed as a consumer credit agreement and would be regulated by the CCA.

 

There are however a number of exemptions where the agreement would not be regulated by the CCA:

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  • An agreement of £25k or more that is for business use.

  • An agreement with a High Net Worth party (To qualify for the High Net Worth exemption the individual must have either annual income in excess of £150,000 or net assets in excess of £500,000).

  • An agreement where the loan is secured on land or where not secured involves a loan in

  • excess of £60,260.

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Whilst these exemptions would render the agreement un-regulated, the party that is subject to the

agreement remains regulated and is still afforded protections.

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Copyright © 2025 Approved Business Finance Ltd. All rights reserved.

 

Approved Business Finance Ltd is an independent asset finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent finance advice. Approved Business Finance Ltd will receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. We will receive commission from our lenders. Approved Business Finance Ltd aims to provide our customers with the highest standards of service. If our service fails to meet your requirements, we will endeavour to find a resolution. 

 

Approved Business Finance Ltd is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. Approved Business Finance Ltd is a Franchisee of Asset Finance Solutions (UK) Ltd. Approved Business Finance Ltd is incorporated in England and Wales (company number: 11914104) with its office at Seebeck House, Seebeck Pl, Milton Keynes MK9 8FR

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