I move amendment No. 219:
In page 48, subsection (2) (a) (vii), line 17, after "APR" to insert "expressed as £ per £100 borrowed".
The provisions of this section are being extended in this proposal which is in keeping with amendment No. 73. The reason for this amendment is that APR expressed as pounds per £100 borrowed makes more sense to persons who avail of credit from moneylenders.
If a collector of credit presents him or herself to a person who is in difficult financial circumstances at a door of a terraced house somewhere, I do not know that the phrase APR makes any sense to the person confronted. It is our duty to try to make it as plain as possible to persons who avail of credit from moneylenders rather than other forms of credit. This recommendation came from the Director of Consumer Affairs.