Start date: 23 October 2012
Closing date: 15 January 2013
The OFT received 26 responses to its consultation on 'Power to suspend consumer credit licences - OFT guidance for licence holders'.
The guidance, published in February 2013, sets out how the OFT will use the new power to suspend consumer credit licences with immediate effect or from a date specified in the notice. It covers the circumstances in which we would be likely to suspend and the decision-making processes that we will employ.
The power to suspend has been given to the OFT through changes to the Consumer Credit Act 1974 ('the Act'), brought about through section 108 of the Financial Services Act 2012 and came into effect on 19 February 2013.
Team leader: Debbie Samosa, Tel: 020 7211 8141, Email: firstname.lastname@example.org
Project director: David Fisher
Senior responsible officer: Vivienne Dews
Any media enquiries should be directed to a member of our Press Office.
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