Consumer Credit Act 2006 (c. 14)

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

24 Debt administration etc. U.K.

(1) 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,”.

F1 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) 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 ”.

(6) 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);”.

Textual Amendments

F1 S. 24(2)-(4) omitted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), art. 1(2)(6), Sch. para. 10(a)

Commencement Information

I1 S. 24(1)(3)(5) in force at 1.10.2008 by S.I. 2007/3300, art. 3(3), Sch. 3

I2 S. 24(2)(4)(6) in force at 16.6.2006 by S.I. 2006/1508, art. 3(1), Sch. 1