Credit Contracts and Consumer Finance Act 2003

82 Unreasonable fees payable to buy-back promoter or associated person

• (1) A buy-back promoter and an associated person of the buy-back promoter must not require the payment of an unreasonable fee in connection with a buy-back transaction.

  (2) If the court is satisfied, on the application of the Commission, an occupier, or a transferee, that a fee payable to a buy-back promoter or to an associated person of a buy-back promoter is unreasonable, it may order that the fee be annulled or reduced.

  (3) The court may make any other order it thinks fit for the purpose of giving effect to an order under subsection (2).

  (4) An application for an order may be made within 1 year of the day that the fee is imposed or debited.