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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 26 July 2013 - onwards
  Version 5 of 5    

155. Right to recover brokerage fees.

(1) Subject to subsection (2A), the excess over £5 of a fee or commission for his services charged by a credit-broker to an individual to whom this subsection applies shall cease to be payable or, as the case may be, shall be recoverable by the individual if the introduction does not result in his entering into a relevant agreement within the six months following the introduction (disregarding any agreement which is cancelled under section 69(1) or becomes subject to section 69(2)).

(2) Subsection (1) applies to an individual who sought an introduction for a purpose which would have been fulfilled by his entry into-

(a) a regulated agreement, or

(b) in the case of an individual desiring to obtain credit to finance the acquisition or provision of a dwelling occupied or to be occupied by that individual or a relative of that individual, an agreement for credit secured on land,

(c) a credit agreement which is an exempt agreement for the purposes of Chapter 14A of Part 2 of the Regulated

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