Consumer Credit Bill
[AS AMENDED IN STANDING COMMITTEE D]
Agreements regulated under the 1974 Act etc.
Definition of “individual”
Removal of financial limits etc.
Exemption relating to high net worth debtors and hirers
Exemption relating to businesses
Consequential amendments relating to ss. 1 to 4
Statements to be provided in relation to regulated credit agreements
Statements to be provided in relation to fixed-sum credit agreements
Further provision relating to statements
Default under regulated agreements
OFT to prepare information sheets on arrears and default
Notice of sums in arrears under fixed-sum credit agreements etc.
Notice of sums in arrears under running-account credit agreements
Failure to give notice of sums in arrears
Notice of default sums
Interest on default sums
Enforceability of regulated agreements
Interest payable on judgment debts etc.
Definition of “default sum”
Unfair relationships between creditors and debtors
Powers of court in relation to unfair relationships
Interpretation of ss. 140A and 140B of the 1974 Act
Further provision relating to unfair relationships
Businesses requiring a licence and consequences of not being licensed
Definitions of “consumer credit business” and “consumer hire business”
Debt administration etc.
Credit information services
Enforcement of agreements by unlicensed trader etc.
Applications for licences and fitness to hold a licence etc.
Charge on applicants for licences etc.
Applications for standard licences
Issue of standard licences
Guidance on fitness test
Variation of standard licences etc.
Winding-up of standard licensee’s business
Consequential amendments relating to ss. 27 to 32
Duration of licences and charges
Definite and indefinite licences
Charges for indefinite licences
Extension of period to pay charge for indefinite licence
Failure to pay charge for indefinite licence
Further powers of OFT to regulate conduct of licensees etc.
Power of OFT to impose requirements on licensees
Power of OFT to impose requirements on supervisory bodies
Supplementary provision relating to requirements
Procedure in relation to requirements
Guidance on requirements
Consequential amendments relating to requirements
Powers and duties in relation to information
Provision of information etc. by applicants
Duties to notify changes in information etc.
Power of OFT to require information generally
Power of OFT to require access to premises
Entry to premises under warrant
Failure to comply with information requirement
Officers of enforcement authorities other than OFT
Consequential amendments relating to information
Power of OFT to impose civil penalties
Further provision relating to civil penalties
Statement of policy in relation to civil penalties
The Consumer Credit Appeals Tribunal
Appeals to the Consumer Credit Appeals Tribunal
Appeals from the Consumer Credit Appeals Tribunal
Consequential amendments relating to appeals
Financial services ombudsman scheme to apply to consumer credit licensees
Funding of ombudsman scheme
Consequential amendments relating to ombudsman scheme
Monitoring of businesses by OFT
Disapplication of s.101 of the 1974 Act
Determinations etc. by OFT
Sums received by OFT
Transitional provision and savings
Short title, commencement and extent
Schedule 1 —
Schedule A1 to the 1974 Act
Schedule 2 —
Part 3A of Schedule 17 to the 2000 Act
Schedule 3 —
Transitional Provision and Savings
Schedule 4 —