Businesses requiring a licence and consequences of not being licensed U.K.

23 Definitions of ‘consumer credit business’ and ‘consumer hire business’ U.K.

In section 189(1) of the 1974 Act (definitions)—

(a) for the definition of ‘consumer credit business’ substitute—

“‘consumer credit business’ means any business being carried on by a person so far as it comprises or relates to—

(a) the provision of credit by him, or

(b) otherwise his being a creditor,

under regulated consumer credit agreements;”

(b) for the definition of “consumer hire business” substitute—

““consumer hire business” means any business being carried on by a person so far as it comprises or relates to—

(a) the bailment or (in Scotland) the hiring of goods by him, or

(b) otherwise his being an owner,

under regulated consumer hire agreements;”.

Commencement Information

I1 S. 23 in force at 6.4.2008 by S.I. 2007/3300, art. 3(2), Sch. 2