95. Article 30 imposes a requirement on all Providers of Unsecured Loans and standard tariff Unsecured Business Overdrafts to SMEs, for values up to £25,000, to publish and display representative APRs for Unsecured Loans and EARs for standard tariff Unsecured Business Overdrafts (up to the value of £25,000). The Order deliberately does not distinguish between regulated and unregulated lending. As we noted in our Final Report (footnote 15 to paragraph 16.27), the UK consumer credit regime applies to SMEs which are sole traders and partnerships with three or fewer partners, for lending below £25,000. Therefore, much business lending is unregulated (eg lending to companies). It is intended that our remedy applies to lending to SME’s which is in scope of Part 8 including unregulated lending. We would however note that for regulated lending, in the case of a conflict between the provisions of Part 8 of this Order and the rules under the Consumer Credit Act 1974 or the Financial Service
…Version date: 2 February 2017 - onwards