Consumer Credit Bill

House of Commons

Session 2004 - 05
Internet Publications
Other Bills before Parliament

Consumer Credit Bill

Consumer Credit Bill
34

OFT) after paragraph (b) insert—
“(ba)
requirements imposed under section 33A or 33B which are in
effect or which have been in effect, with details of any variation
of such a requirement;”.
(3)
In the Table in section 41 of that Act (appeals) after the entry relating to “refusal
5
to end suspension of licence in accordance with terms of application” insert the
following entry—

“Determination—
A person who falls within

(a)
to impose a
section 33C(6) or (7) in

requirement under
relation to the requirement

10

section 33A or 33B;
unless the OFT was not

(b)
to refuse an
required to give a notice to

application under
him in relation to the

section 33C(5) in
determination by virtue of

relation to a
section 33D(4).”

15

requirement

imposed under

either of those

sections; or

(c)
to vary or revoke a

20

requirement so

imposed.

Powers and duties in relation to information
44
Provision of information etc. by applicants
(1)
In subsection (2) of section 6 of the 1974 Act (which contains provision relating
25
to applications)—
(a)
for “particulars” substitute “information and documents”;
(b)
for “by” in the second place where it occurs substitute “or describe in a”.
(2)
For subsection (3) of that section substitute—
“(3)
Where the OFT receives an application, it may by notice to the applicant
30
at any time before the determination of the application require him to
provide such further information or documents relevant to the
application as may be specified or described in the notice.”
(3)
After subsection (4) of that section insert—
“(5)
Subsection (6) applies where a general notice is published under
35
subsection (2)—
(a)
after an application has been made; but
(b)
before its determination.
(6)
The applicant shall, within such period as may be specified in the
general notice, provide the OFT with any information or document—
40
(a)
which he has not previously provided in relation to the
application by virtue of this section;

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(b)
which he would have been required to provide with his
application had it been made after the general notice was
published; and
(c)
which the general notice requires to be provided for the
purposes of this subsection.
5
(7)
An applicant shall notify the OFT, giving details, if before his
application is determined—
(a)
any information or document provided by him in relation to the
application by virtue of this section is, to any extent, superseded
or otherwise affected by a change in circumstances; or
10
(b)
he becomes aware of an error in or omission from any such
information or document.
(8)
A notification for the purposes of subsection (7) shall be given within
the period of 28 days beginning with the day on which (as the case may
be)—
15
(a)
the information or document is superseded;
(b)
the change in circumstances occurs; or
(c)
the applicant becomes aware of the error or omission.
(9)
Subsection (7) does not require an applicant to notify the OFT about—
(a)
anything of which he is required to notify it under section 36; or
20
(b)
an error in or omission from any information or document
which is a clerical error or omission not affecting the substance
of the information or document.”
45
Duties to notify changes in information etc.
After section 36 of the 1974 Act insert—
25
“36A
Further duties to notify changes etc.
(1)
Subsections (2) to (4) apply where a general notice is published under
section 6(2).
(2)
A person who is the holder of a standard licence or who is the original
applicant for a group licence shall, in relation to each relevant
30
application which he has made and which has been determined before
the publication of the general notice, provide the OFT with any
information or document—
(a)
which he would have been required to provide with the
application had the application been made after the general
35
notice was published; and
(b)
which the general notice requires to be provided for the
purposes of this subsection.
(3)
Any such information or document shall be provided within such
period as may be specified in the general notice.
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(4)
Subsection (2) does not require a person to provide any information or
document—
(a)
which he provided in relation to the application by virtue of
section 6;
(b)
which he has previously provided in relation to the application
45
by virtue of this section; or

Consumer Credit Bill
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(c)
which he would have been required to provide in relation to the
application by virtue of subsection (5) but for subsection (6).
(5)
A person who is the holder of a standard licence or who is the original
applicant for a group licence shall, in relation to each relevant
application which he has made, notify the OFT giving details if, after
5
the application is determined, any information or document which
he—
(a)
provided in relation to the application by virtue of section 6, or
(b)
has so provided by virtue of this section,

is, to any extent, superseded or otherwise affected by a change in
10
circumstances.
(6)
Subsection (5) does not require a person to notify the OFT about a
matter unless it falls within a description of matters specified by the
OFT in a general notice.
(7)
A description may be specified for the purposes of subsection (6) only
15
if the OFT is satisfied that the matters which would fall within that
description are matters which would be relevant to the question of—
(a)
whether, having regard to section 25(2), a person is a fit person
to carry on a business under a standard licence; or
(b)
whether the public interest is better served by a group licence
20
remaining in effect than by obliging the licensees under it to
apply separately for standard licences.
(8)
A person who is the holder of a standard licence or who is the original
applicant for a group licence shall, in relation to each relevant
application which he has made, notify the OFT about every error or
25
omission—
(a)
in or from any information or document which he provided by
virtue of section 6, or which he has provided by virtue of this
section, in relation to the application; and
(b)
of which he becomes aware after the determination of the
30
application.
(9)
A notification for the purposes of subsection (5) or (8) shall be given
within the period of 28 days beginning with the day on which (as the
case may be)—
(a)
the information or document is superseded;
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(b)
the change in circumstances occurs; or
(c)
the holder of the standard licence or the original applicant
becomes aware of the error or omission.
(10)
This section does not require a person to notify the OFT about—
(a)
anything of which he is required to notify it under section 36; or
40
(b)
an error in or omission from any information or document
which is a clerical error or omission not affecting the substance
of the information or document.
(11)
In this section ‘relevant application’ means, in relation to a person who
is the holder of a standard licence or who is the original applicant for a
45
group licence—
(a)
the original application for the licence; or
(b)
an application for its renewal or for its variation.”

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46
Power of OFT to require information generally
After section 36A of the 1974 Act (inserted by section 45 of this Act) insert—
“36B
Power of OFT to require information generally
(1)
The OFT may by notice to a person require him—
(a)
to provide such information as may be specified or described in
5
the notice; or
(b)
to produce such documents as may be so specified or described.
(2)
The notice shall set out the reasons why the OFT requires the
information or documents to be provided or produced.
(3)
The information or documents shall be provided or produced—
10
(a)
before the end of such reasonable period as may be specified in
the notice; and
(b)
at such place as may be so specified.
(4)
A requirement may be imposed under subsection (1) on a person who
is—
15
(a)
the holder of a standard licence, or
(b)
the original applicant for a group licence,

only if the provision or production of the information or documents in
question is reasonably required for purposes connected with the OFT’s
functions under this Act.
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(5)
A requirement may be imposed under subsection (1) on any other
person only if—
(a)
an act or omission mentioned in subsection (6) has occurred or
the OFT has reason to suspect that such an act or omission has
occurred; and
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(b)
the provision or production of the information or documents in
question is reasonably required for purposes connected with—
(i)
the taking by the OFT of steps under this Part as a
consequence; or
(ii)
its consideration of whether to take such steps as a
30
consequence.
(6)
Those acts or omissions are acts or omissions which—
(a)
cast doubt on whether, having regard to section 25(2), a person
is a fit person to carry on a business under a standard licence;
(b)
cast doubt on whether the public interest is better served by a
35
group licence remaining in effect, or being issued, than by
obliging the persons who are licensees under it, or who would
be licensees under it, to apply separately for standard licences;
(c)
give rise, or are likely to give rise, to dissatisfaction for the
purposes of section 33A(1) or 33B(1); or
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(d)
constitute or give rise to a failure of the kind mentioned in
section 39A(1).”