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| | Thursday 27th January 2005 |
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| | Consumer Credit Bill —————————— |
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| | [Third and Fourth Sittings] —————————— |
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| | Clause 30, page 22, line 46, at end insert ‘, and shall have regard to the regulations |
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| | issued by the Secretary of State.’. |
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| | Clause 31, page 24, line 2, leave out subsection (8) and insert— |
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| | | ‘(8) | Subsection (1) shall have effect in relation to a standard licence as if an |
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| | | application could be made for the renewal or further renewal of the licence on the |
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| | | same terms (except as to expiry) even if such an application could not be made |
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| | | because of provision made in a general notice under section 24A(5). |
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| | | (9) | Accordingly, in applying subsection (1AA) of section 25 in relation to the licence |
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| | | for the purposes of this section, the OFT shall treat references in that subsection |
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| | | to the description or descriptions of business in relation to a type of business as |
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| | | references to the description or descriptions of business included in the licence in |
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| | | relation to that type of business, notwithstanding that provision under section |
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| | Clause 31, page 24, line 13, leave out ‘because a person can no longer’ and insert |
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| | ‘simply because, by virtue of provision made in a general notice under section 24A(5), a |
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| | | Clause, as amended, Agreed to. |
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| | Clause 32, page 24, line 20, after ‘step’, insert ‘for such period as it thinks fit’. |
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| | Clause 32, page 24, line 27, leave out subsections (3) and (4) and insert— |
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| | | ‘(3) | Subject to subsection (4), where the OFT defers the taking of a step falling within |
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| | | subsection (2), the licence shall continue in effect for the period of the deferral— |
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| | | (a) | on the same terms (disregarding the OFT’s determination to take the step |
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| | | falling within subsection (2)); or |
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| | | (b) | in the case of a step falling within subsection (2)(b), on the terms applied |
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| | | | and, in the case of a step falling within subsection (2)(a) or (b), notwithstanding |
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| | | that apart from this subsection the licence would expire before the end of the |
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| | | (4) | Where the OFT defers the taking of a step falling within subsection (2), it may— |
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| | | (a) | specify activities or descriptions of activities which are to be excluded |
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| | | from the activities authorised to be carried on by virtue of subsection (3); |
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| | | (b) | specify requirements which must be complied with by the licensee during |
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| | | the period of the deferral in relation to the activities authorised to be |
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| | | carried on by virtue of that subsection; |
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| | | (c) | terminate the period of the deferral if the licensee fails to comply with a |
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| | | requirement specified under paragraph (b). |
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| | | (4A) | Under subsection (4)(a) an activity may be excluded for the whole of the period |
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| | | of the deferral or for only a specified part of it.’. |
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| | | Clause, as amended, Agreed to. |
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| | Clause 34, page 27, line 39, at end insert— |
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| | | ‘(1E) | In all cases, the OFT shall state its reason for allowing for a limited period only, |
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| | | when the application was for an indefinite period, and those reasons shall be |
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| | | consistent with the guidelines the OFT itself sets out.’. |
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| | | Clauses 35 to 37 Agreed to. |
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| | Clause 38, page 30, line 30, leave out from first ‘licensee’ to end of line. |
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| | | Clauses 39 to 41 Agreed to. |
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| | Clause 42, page 33, line 27, leave out subsection (3) and insert— |
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| | | ‘(3) | The OFT shall have the duty to take all reasonable steps to ensure that the revised |
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| | | guidance is brought to the attention of those likely to be affected by it.’. |
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| | Clause 42, page 33, line 31, at end insert ‘, which shall include a representative |
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| | sample of those likely to be affected by it.’. |
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| | | Clauses 43 to 46 Agreed to. |
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| | Clause 47, page 38, line 27, at end insert— |
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| | | ‘(7A) | It shall be the duty of the OFT to take all reasonable steps to ensure that its own |
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| | | officers, or those of the enforcement agency, shall, when entering and while on |
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| | | the premises by virtue of this section, at all times behave in a reasonable and |
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| | Page 39, line 11, leave out Clause 48. |
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| | | Clauses 49 and 50 Agreed to. |
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| | Clause 51, page 42, line 43, at end add— |
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| | | ‘(9) | The OFT shall maintain a record of all visits to premises carried out by virtue of |
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| | | the relevant sections of this Act, and those records shall be made available to the |
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| | | appeal authorities set up by this Act.’. |
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| | Clause 52, page 43, line 16, at end insert ‘This amount may be altered by the |
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| | Secretary of State by Statutory Instrument.’. |
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| | Clause 52, page 43, line 23, after ‘OFT’, insert ‘through the courts’. |
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| | Clause 53, page 43, line 41, leave out ‘and’. |
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| | Clause 53, page 44, line 3, at end insert ‘; and informing him of his right of appeal |
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| | Clause 53, page 44, line 11, at end insert— |
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| | | ‘(c) | the effect such a penalty will have on the ability of the person to continue |
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| | Clause 54, page 44, line 34, at end insert ‘, who shall have the power to order that |
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| | the statement of policy shall be amended if he is not satisfied with it.’. |
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| | Clause 54, page 44, line 39, at end insert ‘, which shall include a representative |
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| | sample of those likely to be affected by it.’. |
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| | Schedule 1, page 55, line 24, at end insert ‘or for any other reasonable reason, |
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| | providing that reason is stated.’. |
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| | Clause 56, page 45, line 21, at end insert— |
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| | | ‘( ) | There shall be the right of appeal against any ruling made by the OFT to the |
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| | | Consumer Credit Appeals Tribunal available to every licensee.’. |
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| | | Clauses 57 to 59 Agreed to. |
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| | Clause 60, page 49, line 41, at end add— |
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| | | ‘(16) | No licensee shall have to pay to the Ombudsman or its scheme operator any |
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| | | money until such time as the case is decided against him.’. |
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| | Clause 62, page 51, line 3, leave out ‘1’ and insert ‘1(1)’. |
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| | | Clause, as amended, Agreed to. |
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| | | Clauses 63 to 68 Agreed to. |
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| | | Credit-token specification |
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| | To move the following Clause:— |
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| | | ‘After section 14 of the 1974 Act insert— |
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| | | “14A | Credit-token specification |
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| | | A person carrying on a consumer credit business and providing a credit- |
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| | | token agreement to an individual must specify in the agreement the type of |
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| | | credit token that will be provided and may not provide other additional |
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| | | credit-tokens, including cheques, that may be used to draw on credit
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| | | accounts without the agreement of the debtor.”.’. |
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| | | Prohibition of unsolicited credit-token applications |
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| | To move the following Clause:— |
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| | | ‘After section 51 of the 1974 Act insert— |
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| | | “51A | Prohibition of unsolicited credit-token applications |
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| | | (1) | It is an offence to give a person an application form for a credit-token |
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| | | unless he has specifically requested it. |
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| | | (2) | To comply with subsection (1), a request must be made by the person |
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| | | making the request either by way of— |
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| | | (a) | a document signed by that person; or |
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| | | (b) | a recorded telephone call by that person to the person or |
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| | | company offering the credit-token.”.’. |
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