Consumer Credit Act 1974 (c. 39)

Part III U.K. Licensing of Credit and Hire Businesses

Issue of licences U.K.

27 Determination of applications. U.K.

(1) Unless the [F1 OFT] determines to issue a licence in accordance with an application [F2 it] shall, before determining the application, by notice—

(a) inform the applicant, giving [F3 its] reasons, that, as the case may be, [F2 it] is minded to refuse the application, or to grant it in terms different from those applied for, describing them, and

(b) invite the applicant to submit to the [F1 OFT] representations in support of his application in accordance with section 34.

(2) If the [F1 OFT] grants the application in terms different from those applied for then, whether or not the applicant appeals, the [F1 OFT] shall issue the licence in the terms approved by [F4 it] unless the applicant by notice informs [F4 it] that he does not desire a licence in those terms.

Textual Amendments

F1 Words in s. 27 substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278, 279, Sch. 25 para. 6(9)(a); S.I. 2003/766, art. 2, Sch. (with art. 3)

F2 Words in s. 27(1) substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278, 279, Sch. 25 para. 6(9)(b)(i); S.I. 2003/766, art. 2, Sch. (with art. 3)

F3 Word in s. 27(1)(a) substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278, 279, Sch. 25 para. 6(9)(b)(ii); S.I. 2003/766, art. 2, Sch. (with art. 3)

F4 Words in s. 27(2) substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278, 279, Sch. 25 para. 6(9)(c); S.I. 2003/766, art. 2, Sch. (with art. 3)