Schedule 24, paragraph 5

A contract between a consumer and a trader where— the trader’s turnover in the trader’s last financial year was less than £1,000,000, and the trader does not enter into consumer savings scheme contracts which result in an account held by a trader for a consumer being credited with funds of more than £120 at any given time. Where a trader is in their first year of trading, the exclusion in this paragraph applies if the test in sub-paragraph (1)(b) alone is satisfied.

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