Amendments proposed to the Consumer Credit Bill - continued House of Commons

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Duties of lenders and debtors

   

Mr Laurence Robertson
Gregory Barker
Mr Ian Liddell-Grainger
Alistair Burt

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—

      (a) the goods and/or services provided by the goods and/or services provider are of a merchantable quality;

      (b) that the goods and/or services are legal;

      (c) that the provider of the goods and/or services, when acting as a credit agent on behalf of a lender, does so in a professional and honest manner and behaves in a way which could be considered reasonable in all aspects;

      (d) that the provider of goods and/or services, when acting as a credit agent on behalf of the lender, has not acted fraudulently in any way with respect to the setting up and/or running of the credit agreement and the provision of those goods and/or services; and

      (e) that the goods and/or services provider, when acting as a credit agent on behalf of the debtor, complies with the requirements of this Act and the 1974 Act.

    (2)   It shall be for the debtor to demonstrate that the provider of goods and/or services has acted in an irresponsible or illegal way, having regard to the subsections above.

    (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
Gregory Barker
Mr Ian Liddell-Grainger
Alistair Burt

NC4

To move the following Clause:—

    'Section 100 of the 1974 Act shall cease to have effect, other than for those agreements in place at the time of this Act coming into force.'.


Regulatory impact

   

Malcolm Bruce
Dr Jenny Tonge

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
Dr Jenny Tonge

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.


ORDER OF THE COMMITTEE [25th January 2005]

That —

    (1)   during proceedings on the Consumer Credit Bill, in addition to its first meeting at 9.25 a.m. on Tuesday 25th January, the Standing Committee shall meet at—

      (a)   2.30 p.m. on Tuesday 25th January; and

      (b)   9.25 a.m. and 2.30 p.m. on Thursday 27th January, Tuesday 1st February and Thursday 3rd February;

    (2)   the Bill be considered in the following order, namely, Clauses 1 to 55, Schedule 1, Clauses 56 to 59, Schedule 2, Clauses 60 to 68, Schedule 3, Clause 69, Schedule 4, Clause 70, new Clauses, new Schedules and remaining proceedings on the Bill;

    (3)   proceedings on the Bill shall (so far as not previously concluded) be brought to a conclusion at 6.55 p.m. on Thursday 3rd February.


 
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Prepared 27 Jan 2005