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|(a)||the authorised person has notified the debtor that it may disclose the debtor's information under this section; and|
|(b)||the debtor has not, within 28 days of the date of notification, informed the authorised person in writing that he objects to such disclosure of his information.|
|(a)||vetting applications for credit or applications that can result in the giving of credit or giving of any guarantee, indemnity, or assurance in relation to the giving of credit;|
|(b)||verifying the identity of the debtor or any applicant for credit, for the purpose of or in connection with an application for credit, or for any other purpose relevant to the financial standing of the debtor, including the prevention of money laundering;|
|(c)||managing credit accounts including debt tracing and recovery;|
|(d)||preventing, detecting or apprehending crime, and for the enforcement of criminal law whether in England and Wales or elsewhere including the tracing and recovery of any sanctions imposed thereunder;|
|(e)||statistical analysis of credit risk assessment in a case where no individual is referred to by name or necessary implication;|
|(f)||any other purpose to which the debtor subsequently consents; and|
|(g)||any other purpose specified in an Order made by the Secretary of State for the purpose of this subsection (4).|
NC2To move the following Clause:
'(1) Any notice served to a hirer or debtor under the provision of the 1974 Act shall be available in
|(a)||formats suitable for persons who are blind or partially sighted, or|
|(b)||languages other than English or Welsh.|
NC3To move the following Clause:
(1) In discharging its functions under this Act to regulate the conduct of licensees, the OFT must, so far as is reasonably possible, act in a way
|(a)||which is compatible with the regulatory objectives set out in subsection (2) below; and|
|(b)||which the OFT considers most appropriate for the purpose of meeting those objectives.|
|(a)||lender confidence, to ensure the widest possible access to credit;|
|(b)||the protection of consumers; and|
|(c)||the national interest in having an efficient and innovative consumer credit section.|
|(a)||the principle that a burden or restriction which is imposed on a person, or on the carrying on of an activity, should be proportionate to the benefits, considered in general terms, which are expected to result from the imposition of that burden or restriction;|
|(b)||the desirability of facilitating innovation in connection with regulated activities;|
|(c)||the desirability of maintaining a competitive market in consumer credit in the United Kingdom; and|
|(d)||the need to minimise the adverse effects on competition that may arise from anything done in the discharge of its functions.".'.|
NC4To move the following Clause:
'(1) The Secretary of State may, by regulations, provide for the standardisation of interest rate calculation for specified consumer credit agreements.
(2) In making regulations under subsection (1), the Secretary of State shall have regard to the methods of interest calculation current at that time.'.
NC5To move the following Clause:
'(1) The OFT shall publish a report each year after the passing of this Act reviewing its duties as provided for under the 1974 Act, as amended by this Act.
(2) Reports made by the OFT under subsection (1) shall also review the work of any enforcement authorities, including local Trading Standards Services, who have acted on behalf of OFT as provided for under section 50.
(3) The Secretary of State shall take any report made by the OFT under subsection (1) into consideration when issuing regulations in relation to the 1974 Act, as amended by this Act.'.
Secretary Alan Johnson
7Page 8, line 16 [Clause 9], at end insert
'(9A) If an agreement mentioned in subsection (9) was made before the beginning of the relevant period, only amounts resulting from failures by the debtor or hirer to make payments he is required to have made during that period shall be taken into account in determining any shortfall for the purposes of subsection (1)(c).
(9B) In subsection (9A) "relevant period" means the period of 20 weeks ending with the day on which the debtor or hirer is required to have made the most recent payment under the agreement.'.
4Page 8, line 20 [Clause 9], at end add
'(11) This section shall not apply if there is no prejudice to the interests of the debtor or hirer.'.
5Page 14, line 11 [Clause 19], at end insert
'(2A) In making a determination under this section, a court shall have regard to guidance published periodically by the OFT.
(2B) Guidance produced by the OFT under subsection (2A) shall be approved by the Secretary of State before publication.'.
Mr Alan Reid
1Page 39, line 22 [Clause 46], at end add
'(7) Nothing in this section shall authorise the disclosure of documents or information subject to legal privilege.'.
Mr Alan Reid
2Page 41, line 19 [Clause 48], leave out 'includes a reference to' and insert 'means'.
3Page 54, line 33 [Clause 71], at end insert
'(2A) The Secretary of State shall not make an order under subsection (2) bringing into force sections 19 to 21 of this Act until advice and information has been published by the OFT in accordance with section 140D of the 1974 Act.'.
6Page 64, line 35 [Schedule 3], at end insert
|'(6)||This paragraph shall only apply to credit agreements which will continue for two years or more beyond the end of the transitional period set out in subsection (4).'.|
Committal1. The Bill shall be committed to a Standing Committee.
Proceedings in Standing Committee2. Proceedings in the Standing Committee shall (so far as not previously concluded) be brought to a conclusion on Thursday 30th June 2005.
3. The Standing Committee shall have leave to sit twice on the first day on which it meets.
Consideration and Third Reading4. 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.
6. Standing Order No. 83B (Programming committees) shall not apply to proceedings on consideration and Third Reading.
Programming of other proceedings7. 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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