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Re: About the CLB and applications for licences

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  • Re: About the CLB and applications for licences

    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:
    • 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?''
    Need to check rules for satisfied / unsatisfied judgements.


    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.




    Last edited by Amethyst; 13th December 2007, 17:55:PM. Reason: sorry had to go kitchen building - will shift this out the way now....
    We may not win by protesting, but if we don't protest we will lose. If we stand up to them, there is always a chance we will win. Hetty Bower

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  • #2
    Re: About the CLB and applications for licences

    I'm not sure if this is the right forum for this so feel free to move it if it's not.


    ''The OFT has conducted 61 licensing actions in the third quarter of 2007 (July - September 2007). The OFT refused seven consumer credit licence applications and revoked four existing licences. The OFT also published 12 minded to revoke or refuse notices''

    http://www.oft.gov.uk/news/press/2007/176-07

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    • #3
      Re: About the CLB and applications for licences

      Consumer credit licensing
      General guidance for licensees and applicants on
      fitness and requirements
      Last edited by Tools; 6th March 2008, 00:49:AM.
      Any opinions I give are my own. Any advice I give is without liability. If you are unsure, please seek qualified legal advice.

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      • #4
        Re: About the CLB and applications for licences

        BBC NEWS | Business | HBOS faced with winding-up order
        We may not win by protesting, but if we don't protest we will lose. If we stand up to them, there is always a chance we will win. Hetty Bower

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

        If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

        Find Solicitors offering fixed fees on our sister site - JustBeagle.com

        Comment

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