What sort of rules does the Consumer Credit Act of 1975 lay down to regulate how consumer credit licensees perform their business?

There are a number of rules in the Consumer Credit Act that are designed to protect both the borrower and the lender. One such provision is that the lender is liable for goods purchased under the act (such as on a credit card) and if the vendor does not provide the service then the credit company should refund the customer's money and pursue the vendor for being in breach of contract. The licensing of lenders is also set out in the Act, identifying the financial properties required of lenders. Importantly, the Act gives power to the judiciary to make rulings based on any abuses of the system outlined within the act.