Session 2014-15
Other Public Bills before Parliament
Bill Home Page
Consumer Rights Bill
to be moved
in grand committee
[Supplementary to the Sixth Marshalled List]
Schedule 7
BARONESS DRAKE
Page 109, leave out lines 7 to 12
Page 109, leave out lines 18 to 31
After Clause 86
BARONESS HOWE OF IDLICOTE
Insert the following new Clause—
or organisation without remote gambling licence
In section 33 of the Gambling Act 2005 (provision of facilities for gambling),
after subsection (5) insert—
“(6) The Commission may give a direction under this section if the
Commission reasonably believe that—
(a) a person or organisation who does not hold a remote
gambling licence is providing remote gambling services in
the United Kingdom; and
(b) failure to give such a direction would deprive consumers of
remote gambling services in the United Kingdom of the
protection afforded by the licensing objectives in section 1 of
this Act.
(7) A direction under this section may be given to—
(a) a particular person operating in the financial sector,
(b) any description of persons operating in that sector, or
(c) all persons operating in that sector.
(8) A direction under section (6) may require a relevant person not to
enter into or continue to participate in—
(a) a specified transaction or business relationship with a
designated person,
(b) a specified description of transactions or business
relationships with a designated person, or
(c) any transaction or business relationship with a designated
person.
(9) Any reference in this section to a person operating in the financial
sector is to a credit or financial institution that—
(a) is a United Kingdom person, or
(b) is acting in the course of a business carried on by it in the
United Kingdom.
(10) In this section—
“credit institution” and “financial institution” have the
meanings given in Schedule 7, paragraph 5 of the Counter-
Terrorism Act 2008;
“designated person”, in relation to a direction, means any of
the persons in relation to whom the direction is given;
“relevant person”, in relation to a direction, means any of the
persons to whom the direction is given.””
LORD STEVENSON OF BALMACARA
BARONESS HAYTER OF KENTISH TOWN
Insert the following new Clause—
The Secretary of State shall produce an annual report on the level at which
a levy on lenders in the high cost consumer credit market should be set and
bring forward measures to ensure—
(a) provision of free debt advice for vulnerable consumers; and
(b) provision of affordable alternative credit through credit unions.”
Insert the following new Clause—
(1) The Financial Conduct Authority (FCA) shall establish a database of short-
term, high-cost credit agreements to ensure that loans conform to
affordability and responsible lending rules.
(2) Any authorised person entering into a short-term, high-cost credit
agreement shall be required to enter details of the agreement onto the
database.
(3) The details to be entered on the database shall be specified by the FCA and
shall include—
(a) information about the borrower, including name, address, date of
birth and national insurance number or other unique identifiers as
may be specified by the FCA; and
(b) information about the loan agreement, including the amount
advanced, the interest and other fees contained in the agreement,
the amount repayable, and the contractual date on which
repayment is due.
(4) All details must be entered onto the database on a real-time basis, which for
the purposes of this section means within a time limit to be laid down by
the FCA, but which will be no more than 24 hours after the relevant
agreement is made.
(5) Authorised persons entering details of short-term high-cost credit
agreements onto the database shall also be required—
(a) to consult the database prior to making any short-term high-cost
credit agreements in order to ensure that any limitations on the
making of high-cost credit agreements that may be set by the FCA
are observed; and
(b) to record the performance of any agreements entered on the
database,
including details of any missed contractual repayments, any deferments,
and the level of default fees or other charges imposed as a consequence.
(6) In the event that a short-term, high-cost credit agreement cannot be entered
into as a consequence of the limitations set by the FCA, then authorised
persons required to use the database shall refer credit applicants to debt
advice services in a manner to be specified by the FCA.”