Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022

Amendment of Central Bank (Supervision and Enforcement) Act 2013

17. The Central Bank (Supervision and Enforcement) Act 2013 is amended, in section 3—

(a) in subsection (1), in the definition of “customer”—

(i) in paragraph (b), by the substitution of “financial service provider,” for “financial service provider, or”,

(ii) in paragraph (c), by the substitution of “credit agreement concerned, or” for “credit agreement concerned,”, and

(iii) by the insertion of the following paragraph after paragraph (c):

“(d) a hirer in a case where the regulated financial service provider undertakes credit servicing in respect of the consumer-hire agreement or hire-purchase agreement concerned,”,

and

(b) by the substitution of the following subsection for subsection (1A):

“(1A) For the purposes of the definition of ‘customer’ in subsection (1)‘relevant borrower’, ‘credit servicing’, ‘credit agreement’, ‘consumer-hire agreement’, ‘hire-purchase agreement’ and ‘hirer’ have the same meaning as in Part V of the Central Bank Act 1997 .”.