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

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Ms Secretary Hewitt

19

Page     25,     line     20     [Clause     32],     leave out subsections (8) and (9) and insert—

    '(8)   The procedures set out in subsections (6) and (7) shall be carried out concurrently with the OFT's consideration of whether it should take the step falling within subsection (2).

    (9)   Accordingly, the OFT's determination of any application of the licensee shall be made at the same time as its determination to take the step falling within subsection (2).

    (10)   If an appeal lies from the determination of that application, the step falling within subsection (2) shall not be taken before the end of the appeal period in relation to that application and, in the case of a step falling within subsection (2)(a) or (b), section 29(4) shall apply accordingly.'.


   

Ms Secretary Hewitt

14

Page     26,     line     10     [Clause     33],     leave out subsections (1) to (5) and insert—

    '(1)   Where—

      (a) a consumer credit EEA firm makes an application for a standard licence, and

      (b) the activities covered by the application are all permitted activities,

    the OFT shall refuse the application.

    (2)   Subsection (3) applies where—

      (a) a consumer credit EEA firm makes an application for a standard licence, and

      (b) some (but not all) of the activities covered by the application are permitted activities.

    (3)   In order to be entitled to be issued with a standard licence in accordance with section 25(1) to (1AB) in relation to a type of business, the firm need not satisfy the OFT that it is a fit person to carry on that type of business so far as it would involve any of the permitted activities covered by the application.

    (4)   A standard licence held by a consumer credit EEA firm does not at any time authorise the carrying on of an activity which is a permitted activity at that time.'.


   

Ms Secretary Hewitt

15

Page     29,     line     15     [Clause     35],     leave out from 'on' to end of line 16 and insert 'such day as may be determined in accordance with provision made by regulations.'.

   

Ms Secretary Hewitt

16

Page     29,     line     34     [Clause     36],     leave out from 'made' to end of line 35 and insert 'before such day as may be determined in accordance with provision made by the OFT by general notice'.


   

Ms Secretary Hewitt

17

Page     30,     line     6     [Clause     36],     leave out subsection (5).


   

Ms Secretary Hewitt

18

Page     44     [Clause     52],     leave out lines 12 to 17 and insert 'rate for the time being specified in section 17 of the Judgments Act 1838.'.


   

Ms Secretary Hewitt

20

Page     57,     line     45     [Schedule     1],     at end insert—

    '(4A) Where—

            (a)   the Tribunal disposes of an appeal against a determination to take a step falling within section 34A(2) of this Act, and

            (b)   at the time it made that determination, the OFT also determined an application under section 34A(6) in relation to that step,

    the Tribunal may do one or more of the things mentioned in sub-paragraph (2)(a) to (e) in relation to the determination of the application.

    (4B) The Tribunal—

            (a)   may exercise its power under sub-paragraph (4A) even if no appeal has been made against the determination of the application under section 34A(6); and

            (b)   in a case where such an appeal has been made, may exercise that power instead of disposing of the appeal.'.


   

Mr Laurence Robertson
Mr Stephen O'Brien
Mr Ian Liddell-Grainger
Gregory Barker

22

*Page     63,     line     2     [Schedule     3],     leave out paragraphs 14 and 15 and insert—

    '14  The court shall not make an order under section 140B of the 1974 Act in connection with a credit agreement made before the commencement of section 20 of this Act.

    15  The repeal by this Act of sections 137 to 140 of the 1974 Act shall not affect the court's power to reopen an existing agreement under those sections.'.


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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