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I know Tools and Cyn already have this info so just research and may help others get their head around what we are doing.
''the fee is £335.00. You are also required to pay a Consumer Credit Jurisdiction levy of £150.00.''
''
Q20 of 24. Has your organisation, or has any individual or organisation we have asked you to tell us about on this form:
10.6 Fitness test: The fitness test will be broadened so that OFT will be
given the clear power to assess the competence of a business to
provide credit, looking ahead to likely future behaviour as well as
checking for past misconduct and other offences.
10.7 Indefinite licences and OFT oversight: OFT will move to a system
of indefinite standard licences and will be able to assess fitness in
relation to specified activities within the licensable categories of
business, to facilitate a more targeted and less burdensome
approach. This means that OFT and businesses will not be
burdened by the current five-yearly licence renewal processes.
Group licences will remain renewable as the norm, to facilitate
OFT’s oversight of the group licence holder, who is responsible for
ensuring members of the group are fit. It will also be possible to
time limit standard licences where appropriate, for example where
consumers may be at risk. OFT will be able to focus its resources
on the monitoring and investigation of licence holders who give
rise to concern so as to ensure they remain fit or, where they are
deemed unfit, are the subject of regulatory action. There will be a
periodic licence fee, replacing the current renewal fee.
10.8 Intermediate sanctions: To provide OFT with the power to apply
intermediate sanctions (rather than having to rely on the
potentially disproportionate tools of refusal, revocation,
suspension, or variation of a licence) to tackle behaviour which
causes detriment but does not render a business unfit. We propose
OFT will be able to impose requirements on licences; breach of
requirements will expose the business concerned to a financial
penalty, which will be subject to a cap of £50,000. The Secretary of
State will be able to amend this cap (to future proof this measure)
through secondary legislation subject to the affirmative resolution
procedure.
''the fee is £335.00. You are also required to pay a Consumer Credit Jurisdiction levy of £150.00.''
''
Q20 of 24. Has your organisation, or has any individual or organisation we have asked you to tell us about on this form:
- had a county court judgment made against them in the last five years
- been a member of a limited liability partnership that has had a county court judgment made against it in the last five years
- been a director, company secretary or controller of a company that has had a county court judgment made against it in the last five years?''
10.6 Fitness test: The fitness test will be broadened so that OFT will be
given the clear power to assess the competence of a business to
provide credit, looking ahead to likely future behaviour as well as
checking for past misconduct and other offences.
10.7 Indefinite licences and OFT oversight: OFT will move to a system
of indefinite standard licences and will be able to assess fitness in
relation to specified activities within the licensable categories of
business, to facilitate a more targeted and less burdensome
approach. This means that OFT and businesses will not be
burdened by the current five-yearly licence renewal processes.
Group licences will remain renewable as the norm, to facilitate
OFT’s oversight of the group licence holder, who is responsible for
ensuring members of the group are fit. It will also be possible to
time limit standard licences where appropriate, for example where
consumers may be at risk. OFT will be able to focus its resources
on the monitoring and investigation of licence holders who give
rise to concern so as to ensure they remain fit or, where they are
deemed unfit, are the subject of regulatory action. There will be a
periodic licence fee, replacing the current renewal fee.
10.8 Intermediate sanctions: To provide OFT with the power to apply
intermediate sanctions (rather than having to rely on the
potentially disproportionate tools of refusal, revocation,
suspension, or variation of a licence) to tackle behaviour which
causes detriment but does not render a business unfit. We propose
OFT will be able to impose requirements on licences; breach of
requirements will expose the business concerned to a financial
penalty, which will be subject to a cap of £50,000. The Secretary of
State will be able to amend this cap (to future proof this measure)
through secondary legislation subject to the affirmative resolution
procedure.
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