Consumer Credit (Regulation and Advice) Bill

House of Commons

Session 2010 - 11
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Other Bills before Parliament

Consumer Credit (Regulation and Advice) Bill

Consumer Credit (Regulation and Advice) Bill
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Interpretation
In this Act “OFT” means the Office of Fair Trading or any successor body with
the power to issue licences to trade to consumer credit providers or otherwise
issue rules concerning their conduct of business.
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Financial provisions
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(1)
There is to be paid, out of money provided by Parliament—
(a)
any expenditure incurred under or virtue of this Act by the Secretary of State
or a person holding office under Her Majesty, and
(b)
any increase attributable to this Act in the sums payable under any other Act
out of money so provided.
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(2)
There is to be paid into the Consolidated Fund any sums received by a government
department by virtue of this Act.
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Regulations
Regulations made under this Act are to be made by statutory instrument and
are to be subject to annulment in pursuance of a resolution of either House of
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Parliament.
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Short title, commencement and extent
(1)
This Act may be cited as the Consumer Credit (Regulation and Advice) Act
2011.
(2)
This Act comes into force at the end of the period of 3 months beginning with
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the day on which it is passed.
(3)
This Act extends to England and Wales only.

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Consumer Credit (Regulation and Advice) Bill
Schedule — Debt Commissioner

Schedule
Section 7

Debt Commissioner
1     (1)
The Debt Commissioner is to be a corporation sole.
      (2)
The Debt Commissioner is not to be regarded as the servant or agent of the
Crown or as enjoying any status, immunity or privilege of the Crown; and
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the Commissioner’s property is not to be regarded as property of, or
property held on behalf of, the Crown.
General powers
2     (1)
The Debt Commissioner may do anything which appears to him or her to be
necessary or expedient for the purpose of, or in connection with, the exercise
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of his or her functions.
      (2)
In particular the Debt Commissioner may—
(a)
co-operate with other public authorities in the United Kingdom;
(b)
enter into contracts; and
(c)
acquire, hold and dispose of any property.
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Appointment and tenure of office
3     (1)
The Debt Commissioner is to be appointed by the Secretary of State.
      (2)
Subject to the provisions of this paragraph, a person shall hold and vacate
office as the Debt Commissioner in accordance with the terms and
conditions of his or her appointment as determined by the Secretary of State.
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      (3)
An appointment as the Debt Commissioner shall be for a term not exceeding
five years.
      (4)
A person who has held office as the Debt Commissioner is eligible for
reappointment once only.
      (5)
The Debt Commissioner may at any time resign by notice in writing to the
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Secretary of State.
      (6)
The Secretary of State may remove the Debt Commissioner from office if the
Secretary of State is satisfied that the Commissioner has—
(a)
become unfit or unable properly to discharge his or her functions; or
(b)
behaved in a way that is not compatible with continuing in office.
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Remuneration
4
The Secretary of State must—
(a)
pay the Debt Commissioner such remuneration and allowances, and
(b)
pay or make provision for the payment of such pension or gratuities
to or in respect of the Debt Commissioner,
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as may be provided under the terms of his or her appointment.

Consumer Credit (Regulation and Advice) Bill
Schedule — Debt Commissioner
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Staff
5     (1)
The Debt Commissioner may appoint any staff the Debt Commissioner
considers necessary for assisting in the exercise of his or her functions, one
of whom shall be appointed as deputy Debt Commissioner.
      (2)
During any vacancy in the office of Debt Commissioner or at any time when
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the Debt Commissioner is for any reason unable to act, the deputy Debt
Commissioner shall exercise his or her functions (and any property or rights
vested in the Debt Commissioner may accordingly be dealt with by the
deputy Debt Commissioner as if vested in him or her).
      (3)
Without prejudice to subparagraph (2), any member of the Debt
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Commissioner’s staff may, so far as authorised by the Debt Commissioner,
exercise any of his or her functions.
Pensions
6     (1)
In the Superannuation Act 1972, in Schedule 1 (kinds of employment etc to
which section 1 of that Act applies)—
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(a)
in the list of “Other Bodies”, at the end insert “Employment by the
Debt Commissioner”;
(b)
in the list of “Offices”, at the appropriate place insert “Debt
Commissioner”.
      (2)
The Secretary of State must pay to the Minister for the Civil Service, at such
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times as the Minister may direct, such sums as he may determine in respect
of any increase attributable to subparagraph (1) in the sums payable out of
money provided by Parliament under the Superannuation Act 1972.
Funding
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The office of the Debt Commissioner will be funded in accordance with the
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provisions of section 8.
Accounts
8     (1)
The Debt Commissioner must—
(a)
keep proper accounting records;
(b)
prepare a statement of accounts for each financial year; and
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(c)
send a copy of each such statement of accounts to the Secretary of
State and the Comptroller and Auditor General as soon as possible
after the end of the financial year to which the statement relates.
      (2)
The Comptroller and Auditor General must examine, certify and report on
each statement of accounts sent under subparagraph (1)(c) and must lay
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copies of the statement and of the report before Parliament.
      (3)
In this paragraph, “financial year” means—
(a)
the period beginning with the date on which the first Debt
Commissioner is appointed and ending with 31 March next
following that date; and
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(b)
each successive period of twelve months ending with 31 March.

Consumer Credit (Regulation and Advice) Bill
Schedule — Debt Commissioner
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Evidence
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A document purporting to be duly executed under the seal of the Debt
Commissioner or to be signed by him or her or on his or her behalf is to be
received in evidence and, unless the contrary is proved, taken to be so
executed or signed.
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Protection from defamation actions
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For the purposes of the law of defamation—
(a)
any statement made by the Debt Commissioner in a report published
under this Act has absolute privilege; and
(b)
any other statement made by the Debt Commissioner or a member of
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his or her staff for the purposes of this Act has qualified privilege.
Regulated position
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In the Criminal Justice and Court Services Act 2000, in section 36(6)
(meaning of “regulated position”), after paragraph (f) insert—
“(fa)
Debt Commissioner and deputy Debt Commissioner
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appointed under section 1 of the Consumer Credit
(Regulation and Advice) Act 2011.”
Disqualifications
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In the House of Commons Disqualification Act 1975, in Part 3 of Schedule 1
(certain disqualifying offices), at the appropriate places insert the following
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entries—
“Debt Commissioner”;
“Member of staff of the Debt Commissioner”.
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In the Northern Ireland Assembly Disqualification Act 1975, in Part 3 of
Schedule 1 (certain disqualifying offices), at the appropriate places insert the
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following entries—
“Debt Commissioner”;
“Member of staff of the Debt Commissioner”.