Section 140C(7)

For the purposes of this section a credit agreement (the ‘earlier agreement’) is consolidated by another credit agreement (the ‘later agreement’) if— the later agreement is entered into by the debtor (in whole or in part) for purposes connected with debts owed by virtue of the earlier agreement; and at any time prior to the later agreement being entered into the parties to the earlier agreement included— the debtor under the later agreement; and the creditor under the later agreement or an associate or a former associate of his.

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Source: legislation.gov.uk · retrieved 2026-07-30