(1) A supplier who, having no reasonable cause to believe that there is a right to payment, in the course of carrying on a business makes a demand for payment, or asserts a present or prospective right to payment, for what the supplier knows to be an unsolicited financial service supplied to a consumer commits an offence.

(2) A supplier who, having no reasonable cause to believe there is a right to payment, in the course of any business and with a view to obtaining payment for what the supplier knows to be an unsolicited financial service supplied to a consumer -

(a) threatens to bring legal proceedings, or

(b) places, or causes to be placed, the name of the consumer on a list of defaulters or debtors, or threatens to do so, or

(c) invokes, or causes to be invoked, any other collection procedure, or threatens to do so,

commits an offence.