Part IF8OFFICE OF FAIR TRADING
1 General functions of F1OFT.
1
It is the duty of the F2 the Office of Fair Trading (“the OFT”)
a
to administer the licensing system set up by this Act,
b
to exercise the adjudicating functions conferred on F3it by this Act in relation to the issue, renewal, variation, suspension and revocation of licences, and other matters,
F4ba
to monitor, as it sees fit, businesses being carried on under licences;
c
generally to superintend the working and enforcement of this Act, and regulations made under it, and
d
where necessary or expedient, F5itself to take steps to enforce this Act, and regulations so made.
2
It is the duty of the F6OFT , so far as appears to F7it to be practicable and having regard both to the national interest and the interests of persons carrying on businesses to which this Act applies and their customers, to keep under review and from time to time advise the Secretary of State about—
a
social and commercial developments in the United Kingdom and elsewhere relating to the provision of credit or bailment or (in Scotland) hiring of goods to individuals, and related activities; and
b
the working and enforcement of this Act and orders and regulations made under it.
Words in Pt 1 heading substituted (1.4.2003) by Enterprise Act 2002 (c. 40), s. 278, Sch. 25 para. 6(2)(c); S.I. 2003/766, art. 2, Sch. (with art. 3)