48Exception—credit providers

48 Exception—credit providers (1) A credit provider may discriminate against an applicant for credit on the basis of age by refusing to provide credit, or in the terms on which credit is provided, if— (a) the criteria for refusal or the terms imposed— (i) are based on actuarial or statistical data on which it is reasonable for the credit provider to rely; and (ii) are reasonable having regard to that data and any other relevant factors; or (b) in a case where no such actuarial or statistical data is available and cannot reasonably be obtained, the criteria for refusal or the terms imposed are reasonable having regard to any other relevant factors. (2) In this section ***credit provider*** means a person who provides credit in the course of a business carried on by that person.