Guidance for holders of consumer credit licences is available from the oft website. An adverse determination a refusal to grant a licence or the revocation of an existing licence can be appealed to the secretary of state for trade and industry. We make no charge for updating the register with details such as new addresses and new or retiring partners or directors. Mortgage deals. Under the consumer credit act, businesses that are involved in consumer credit or hire must have a consumer credit licence. Q  how long will a licence last?The oft can revoke a licence after it has been issued if it receives evidence that a licensee is not a fit person.

To find out all the information you will need to set up your own company read our consumer credit information guide. Christine wade, director of consumer regulation enforcement said. In the case of a licence of limited duration, that the period. And if you trade under more than one name, you must specify each of the names in the licence. A licence terminates if the licensee gives the oft a notice under. Businesses requiring a licence and consequences of not being licensed.

But if you are refused credit, then you can do something about it. The oft has refused the consumer credit licence application of shaun peter finnegan, a prospective credit broker, based in doncaster. We need to know who is running the business to make sure they are fit to hold a licence. Failure to comply with the provisions of the consumer credit act or other consumer protection legislation. Any consumer complaints about the business. Register of orders and undertakings. A group licence shall have effect for a limited period only unless the.

The judgment will normally remain on the credit reference agency’s file for six years. Credit faqs watchdog watchdog reports elsewhere on bbc. Co. Uk. Security direct gb ltd, financial ancillary credit business - wolverhampton - 47538. A   if you trade under more than one name, they must all be specified in the licence. Variation shall provide for the licence to expire. insolvency law and practice Adjudicators issue and determine licensing notices under the consumer credit act. Section 28: applications for standard licences.