Section 343(3)

For the purposes of this section a transaction is extortionate if, having regard to the risk accepted by the person providing the credit— the terms of it are or were such as to require grossly exorbitant payments to be made (whether unconditionally or in certain contingencies) in respect of the provision of the credit, or it otherwise grossly contravened ordinary principles of fair dealing; and it shall be presumed, unless the contrary is proved, that a transaction, with respect to which an application is made under this section is or, as the case may be, was extortionate.

← 2 · All articles · 4 →

Source: legislation.gov.uk · retrieved 2026-09-04