Section 282(1)

For the purposes of this Chapter, a consumer savings scheme contract is a contract— under which— a consumer makes payments to a trader, the trader credits those payments to an account that is held by the trader for the consumer (“the consumer’s account”), and the payments credited to the consumer’s account provide a fund for the consumer to redeem as goods, services or digital content in accordance with the terms of the contract, to which one or more of subsections (2), (3) or (4) applies, and which is not an excluded arrangement (see section 284).

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