Consumer Credit Act 1974

PART X OF ACT Ancillary Credit Businesses

Licensing

44 (1) Section 21(1) does not apply (by virtue of section 147(1)) to the carrying on of any ancillary credit business before the day appointed for the purposes of this paragraph in relation to a business of that description.

(2) Where the person carrying on an ancillary credit business applies for a licence before the day appointed for the purposes of this paragraph in relation to a business of that description, he shall be deemed to have been granted on that day a licence covering that business and continuing in force until the licence applied for is granted or, if the application is refused, until the end of the appeal period.

Enforcement of agreements made by unlicensed trader

45 Section 148(1) does not apply to an agreement made in the course of any business before the day appointed for the purposes of paragraph 44 in relation to a business of that description.

Introductions by unlicensed credit-broker

46 Section 149 does not apply to a regulated agreement made on an introduction effected in the course of any business if the introduction was effected before the day appointed for the purposes of paragraph 44 in relation to a business of that description.

Advertisements

47 Subsections (1) and (2) of section 151 do not apply to any advertisement published before the day appointed for the purposes of this paragraph.

Credit reference agencies

48 Sections 157 and 158 do not apply to a request received before the day appointed for the purposes of this paragraph.