‘For the purposes of section 106(d) of the Consumer Act 1974 the words “realisation of the security” should be interpreted conventionally so as to achieve the policy objective stated in section 113(1) that the security provided in relation to a regulated agreement could not be enforced so as to benefit the creditor to any greater extent than would be the case if the security were not provided. In the case of a secured loan to which section 106(d) applied, its provisions did not catch all sums paid by the debtor in discharge of the loan.’
WLR Daily, 17th December 2013
Source: www.iclr.co.uk
