Consumer Credit Act 2006

35 Charges for indefinite licences

After section 28 of the 1974 Act insert—

“Charges for indefinite licences

28A Charges to be paid by licensees etc. before end of payment periods

(1) The licensee under a standard licence which has effect indefinitely shall, before the end of each payment period of his, pay the OFT a charge towards the costs of carrying out its functions under this Act.

(2) The original applicant for a group licence which has effect indefinitely shall, before the end of each payment period of his, pay the OFT such a charge.

(3) The amount of the charge payable by a person under subsection (1) or (2) before the end of a payment period shall be determined in accordance with provision which—

(a) is made by the OFT by general notice; and

(b) is current on such day as may be determined in accordance with provision made by regulations.

(4) The provision that may be made by the OFT under subsection (3)(a) includes—

(a) different provision in relation to persons of different descriptions (including persons whose payment periods end at different times);

(b) provision for no charge at all to be payable by persons of specified descriptions.

(5) The approval of the Secretary of State and the Treasury is required for a general notice under subsection (3)(a).

(6) For the purposes of this section a person’s payment periods are to be determined in accordance with provision made by regulations.”