Amendments proposed to the Consumer Credit Bill - continued | House of Commons |
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Mr Gerry Sutcliffe 3 Clause 31, page 24, line 2, leave out subsection (8) and insert'"(8) Subsection (1) shall have effect in relation to a standard licence as if an application could be made for the renewal or further renewal of the licence on the same terms (except as to expiry) even if such an application could not be made because of provision made in a general notice under section 24A(5). (9) Accordingly, in applying subsection (1AA) of section 25 in relation to the licence for the purposes of this section, the OFT shall treat references in that subsection to the description or descriptions of business in relation to a type of business as references to the description or descriptions of business included in the licence in relation to that type of business, notwithstanding that provision under section 24A(5).".'.
Mr Gerry Sutcliffe 4 Clause 31, page 24, line 13, leave out 'because a person can no longer' and insert 'simply because, by virtue of provision made in a general notice under section 24A(5), a person cannot'.
Mr Gerry Sutcliffe 7 Clause 32, page 24, line 20, after 'step' insert 'for such period as it thinks fit'.
Mr Gerry Sutcliffe 5 Clause 32, page 24, line 27, leave out subsections (3) and (4) and insert'(3) Subject to subsection (4), where the OFT defers the taking of a step falling within subsection (2), the licence shall continue in effect for the period of the deferral
(4) Where the OFT defers the taking of a step falling within subsection (2), it may
Mr Laurence Robertson 28 *Page 39, line 11, leave out Clause 48.
Mr Gerry Sutcliffe 6 Clause 62, page 51, line 3, leave out '1' and insert '1(1)'.
NEW CLAUSESCredit-token specification
Mr James Plaskitt NC1 To move the following Clause:
Prohibition of unsolicited credit-token applications
Chris Bryant NC2 To move the following Clause:'After section 51 of the 1974 Act insert "51A Prohibition of unsolicited credit-token applications. '(1) It is an offence to give a person an application form for a credit-token unless he has specifically requested it. (2) To comply with subsection (1), a request must be made by the person making the request either by way of
Duties of lenders and debtors
Mr Laurence Robertson NC3 *To move the following Clause:'(1) A lender who provides credit or loans to a debtor so that the debtor may purchase goods and/or services from a third party, who acts as an agent for the lender, in terms of signing debtors up to financial agreements, shall take all reasonable steps to ensure that
(3) If the debtor so demonstrates, it shall be for the lender to show that he has taken all reasonable steps to ensure that the requirements of the above subsections have been met. (4) If the lender fails so to do to the satisfaction of the court, the court shall have the power to review the agreement.'.
Liability of debtor on termination of hire-purchase etc. agreement
Mr Laurence Robertson NC4 *To move the following Clause:
Regulatory impact
Malcolm Bruce NC5 *To move the following Clause:'(1) The Office of Fair Trading (OFT) will report to the Secretary of State and to Parliament annually on the impact of its monitoring of businesses being carried on under licences and its determinations to issue, renew or vary a licence under the provisions of this Act. (2) The Secretary of State will after a period of no more than five years, consult on and publish an assessment of the impact the Act has had in terms of regulatory burden and harmonisation with European Directives.'.
Office of Fair Trading: further duties
Malcolm Bruce NC6 *To move the following Clause:'(1) The Office of Fair Trading (OFT) shall consult other financial agencies and produce a standard requirement for the presentation of interest rates to enable direct comparison between products. (2) The OFT shall periodically, and at least annually, publish the range of interest rates on the market for specified products. (3) The OFT shall further publish court rulings and advice of the ombudsman on levels of interest rates for particular products which are likely to be deemed unfair under section 19.'.
ORDER OF THE HOUSE [13th January 2005]That the following provisions shall apply to the Consumer Credit Bill:Committal 1. The Bill shall be committed to a Standing Committee
Proceedings in Standing Committee 2. Proceedings in the Standing Committee shall (so far as not previously concluded) be brought to a conclusion on Thursday 3rd February 2005.3. The Standing Committee shall have leave to sit twice on the first day on which it meets.
Consideration and Third Reading 4. Proceedings on consideration shall (so far as not previously concluded) be brought to a conclusion one hour before the moment of interruption on the day on which those proceedings are commenced.5. Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on that day.
Programming Committee 6. Standing Order No. 83B (Programming committees) shall not apply to proceedings on consideration and Third Reading.
Programming of proceedings 7. Any other proceedings on the Bill (including any proceedings on consideration of Lords Amendments or on any further messages from the Lords) may be programmed.
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©Parliamentary copyright 2005 | Prepared 21 Jan 2005 |