Which Act regulates the payment of insurance premiums by instalments?

The Consumer Credit Act 1974 is the legislation that specifically addresses the regulation of credit agreements, including the payment of insurance premiums by instalments. This Act establishes the legal framework for consumer credit in the UK, focusing on consumer protection. It sets out the rights and responsibilities of both lenders and borrowers, ensuring transparency in the terms of credit agreements.

In the context of insurance, the Act allows consumers to enter into payment plans for their insurance premiums, ensuring that they have the ability to spread the cost over a specified period. This flexibility is crucial, as it makes insurance more accessible to a wider range of consumers who may be unable to pay a lump sum upfront.

The other options pertain to different areas of consumer protection and financial regulation but do not specifically address the instalment payment of insurance premiums. The Financial Services and Markets Act 2000 primarily focuses on the regulation of financial services and markets but not specifically on payment structures. The Sale and Supply of Goods to Consumers Regulations 2002 and the Sale of Goods Act 1979 concern the sale of goods and consumer rights related to goods rather than services like insurance. Therefore, the Consumer Credit Act 1974 is the most relevant legislation for the regulation of insurance premium payments made by instalments.