New Judgment: OFT v Abbey National plc & others;  UKSC 6 [updated]
25 Wednesday Nov 2009
On appeal from:  EWCA Civ 116.
The principal question in the appeal was whether the OFT was entitled to assess the fairness of certain charges made by the Banks under the Unfair Terms in Consumer Contract Regulations 1999. Reg 6(2)(b) of the 1999 Regulations states that the assessment of the fairness of a term in a contract “shall not relate . . . to the adequacy of the price or remuneration, as against the goods or services supplied in exchange”.
Held: unanimously allowing the appeal by the banks. The charges constituted the “price and remuneration” as against ‘the goods or services supplied in exchange” within the meaning of the Regulations.
It was not necessary to refer the matter to the ECJ.
For judgment, please download:  UKSC 6. The Judgment is now available on Bailii in HTML.
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For the Court Order, please download: Court Order