20 November 2009
Southern Pacific Personal Loans Ltd v Walker and another [2009] EWCA Civ 1176, [2009] All ER (D) 139 (Nov)
Section 9(4) of the Consumer Credit Act 1974 did not prohibit interest on any charge for credit, including, for instance, a broker administration fee. Interest was not to be treated as a necessary feature or indicator of credit, and, secondly, there was no mention anywhere in s 9(4) of interest, let alone a prohibition of it.
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