Businesses requiring a licence and consequences of not being licensed
24Debt administration etc.
I21
In subsection (1) of section 145 of the 1974 Act (types of ancillary credit business) for the “or” after paragraph (d) substitute—
da
debt administration,
F12
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F13
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14
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I25
In subsection (3) of section 177 of that Act (saving for registered charges) and in the subsection (3) applied by virtue of subsection (5) of that section for “a business of debt-collecting” substitute “
a consumer credit business, a consumer hire business or a business of debt-collecting or debt administration
”
.
I16
In section 189(1) of that Act (definitions) after the definition of “debt-adjusting” insert—
‘debt administration’ has the meaning given by section 145(7A);