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In this Act “OFT” means the Office of Fair Trading or any successor body with |
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the power to issue licences to trade to consumer credit providers or otherwise |
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issue rules concerning their conduct of business. |
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(1) | There is to be paid, out of money provided by Parliament— |
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(a) | any expenditure incurred under or virtue of this Act by the Secretary of State |
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or a person holding office under Her Majesty, and |
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(b) | any increase attributable to this Act in the sums payable under any other Act |
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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 |
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department by virtue of this Act. |
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Regulations made under this Act are to be made by statutory instrument and |
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are to be subject to annulment in pursuance of a resolution of either House of |
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14 | Short title, commencement and extent |
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(1) | This Act may be cited as the Consumer Credit (Regulation and Advice) Act |
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(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. |
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(3) | This Act extends to England and Wales only. |
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1 (1) | The Debt Commissioner is to be a corporation sole. |
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(2) | The Debt Commissioner is not to be regarded as the servant or agent of the |
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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 |
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property held on behalf of, the Crown. |
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2 (1) | The Debt Commissioner may do anything which appears to him or her to be |
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necessary or expedient for the purpose of, or in connection with, the exercise |
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(2) | In particular the Debt Commissioner may— |
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(a) | co-operate with other public authorities in the United Kingdom; |
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(b) | enter into contracts; and |
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(c) | acquire, hold and dispose of any property. |
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Appointment and tenure of office |
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3 (1) | The Debt Commissioner is to be appointed by the Secretary of State. |
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(2) | Subject to the provisions of this paragraph, a person shall hold and vacate |
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office as the Debt Commissioner in accordance with the terms and |
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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 |
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(4) | A person who has held office as the Debt Commissioner is eligible for |
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(5) | The Debt Commissioner may at any time resign by notice in writing to the |
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(6) | The Secretary of State may remove the Debt Commissioner from office if the |
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Secretary of State is satisfied that the Commissioner has— |
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(a) | become unfit or unable properly to discharge his or her functions; or |
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(b) | behaved in a way that is not compatible with continuing in office. |
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4 | The Secretary of State must— |
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(a) | pay the Debt Commissioner such remuneration and allowances, and |
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(b) | pay or make provision for the payment of such pension or gratuities |
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to or in respect of the Debt Commissioner, |
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| as may be provided under the terms of his or her appointment. |
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5 (1) | The Debt Commissioner may appoint any staff the Debt Commissioner |
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considers necessary for assisting in the exercise of his or her functions, one |
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of whom shall be appointed as deputy Debt Commissioner. |
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(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 |
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Commissioner shall exercise his or her functions (and any property or rights |
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vested in the Debt Commissioner may accordingly be dealt with by the |
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deputy Debt Commissioner as if vested in him or her). |
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(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, |
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exercise any of his or her functions. |
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6 (1) | In the Superannuation Act 1972, in Schedule 1 (kinds of employment etc to |
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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 |
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(b) | in the list of “Offices”, at the appropriate place insert “Debt |
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(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 |
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of any increase attributable to subparagraph (1) in the sums payable out of |
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money provided by Parliament under the Superannuation Act 1972. |
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7 | The office of the Debt Commissioner will be funded in accordance with the |
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8 (1) | The Debt Commissioner must— |
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(a) | keep proper accounting records; |
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(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 |
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State and the Comptroller and Auditor General as soon as possible |
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after the end of the financial year to which the statement relates. |
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(2) | The Comptroller and Auditor General must examine, certify and report on |
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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. |
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(3) | In this paragraph, “financial year” means— |
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(a) | the period beginning with the date on which the first Debt |
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Commissioner is appointed and ending with 31 March next |
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(b) | each successive period of twelve months ending with 31 March. |
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9 | A document purporting to be duly executed under the seal of the Debt |
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Commissioner or to be signed by him or her or on his or her behalf is to be |
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received in evidence and, unless the contrary is proved, taken to be so |
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Protection from defamation actions |
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10 | For the purposes of the law of defamation— |
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(a) | any statement made by the Debt Commissioner in a report published |
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under this Act has absolute privilege; and |
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(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. |
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11 | In the Criminal Justice and Court Services Act 2000, in section 36(6) |
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(meaning of “regulated position”), after paragraph (f) insert— |
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“(fa) | Debt Commissioner and deputy Debt Commissioner |
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appointed under section 1 of the Consumer Credit |
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(Regulation and Advice) Act 2011.” |
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12 | In the House of Commons Disqualification Act 1975, in Part 3 of Schedule 1 |
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(certain disqualifying offices), at the appropriate places insert the following |
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“Member of staff of the Debt Commissioner”. |
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13 | In the Northern Ireland Assembly Disqualification Act 1975, in Part 3 of |
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Schedule 1 (certain disqualifying offices), at the appropriate places insert the |
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“Member of staff of the Debt Commissioner”. |
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