sec 78 has to provide original signed agreement

[newbloke]

most people have over looked this very important part of the act.

1. sec 78 requests a copy of the executed agreement.

2. sec 189 describes an executed agreement as a document signed on behalf of both parties embodying the terms of a regulated agreement.

3. once an agreement has been varied it becomes a modified agreement.

4. copy document regs si 1983/1557 do not apply to sec 78 or 85 where an agreement has been varied

5. therefore where an agreement has been varied(modified) they have to supply the original signed agreement under sec 78 and 85, the proof of this lies in 1983/1557 sec 11(g), and the proof modifying agreements are required lies in 1983/1553.

hence sec 78 stipulating THE executed agreement, NOT varied agreement, there is only ever 1 executed agreement, and that is the first one you sign, all the rest are modified, the creditors failure to modify makes their agreements unenforceable under sec 85 and also in breach of contract.

people who receive applications under sec 78 have clearly never signed an agreement as applications are signed with respect to part 4 of the act, where the creditor is seeking business and is stipulated by sec 51, ie the creditor has to receive a signed application before a credit token can be issued. these applications should be followed by antecedent negotiations(credit checks) and upon passing these an agreement then sent compliant with sec 60 and signed in respect to part 5 of the act "entry into agreement"

[BUDIT]

Brilliant i am pretty new to all this and have been following bits in the press and on sites ect, i have never heard it put so clearly.