I move amendment No. 91:
In page 21, line 15, after "provision of" to insert "consumer".
The purpose of the amendment is to ensure that no misunderstanding will arise whereby advertising of commercial credit would be accidentally encompassed or believed to be by the application of Part II of the Bill. The recommendation for this came from interested parties.
This is an important section because it deals with the application of Part II of the Bill. Emphasis is placed on the provision of clear and correct information to the consumer in advertising which offers to provide or arrange credit. This section requires APR to be shown in all advertising notices, etc., which refers to the cost of credit. It will replace a similar requirement in Irish law by virtue of the Consumer Information Credit Order 1987. Sometimes advertising for credit is in large writing but the important information which affects the consumer is in small writing. Equal prominance will now have to be given to APR and so on. I am inserting the word "consumer" so that it is not taken to mean commercial credit.