Newsroom

OFT refuses credit licence applications for Shropshire and Staffs businesses

196/05    24 October 2005

The OFT has refused applications for consumer credit licences from Lester John Stacey of Shropshire and Tracey-Anne Elizabeth Henney of Stafford.

Lester Stacey applied for a credit licence for a business selling motor homes near Market Drayton, Shropshire. Tracey-Anne Henney applied for a credit licence as a financial advisor in Stafford. Both applications were refused.

Mr Stacey's application was refused by the Adjudicator on the grounds that he has previous convictions for assault, false imprisonment, possession of a shotgun without a certificate, failing to surrender to custody, and offering to supply goods to which a false trade description had been applied.

Ms Henney's application was refused because of her business association with Mr Stacey which she failed to declare to OFT. This is a breach of the Consumer Credit Act 1974.

In considering fitness, the OFT will take into account a number of factors including:

• any offence or conviction of violence or dishonesty carried out by the business or anyone involved in running the business
• failure to comply with the provisions of the Consumer Credit Act or other consumer protection legislation
• consumer complaints and how they are dealt with
• evidence of unfair business practice
• evidence of discrimination on grounds of sex, colour, race or ethnic origin.

Christine Wade, Director of Consumer Regulation Enforcement, said:

'Neither of these applicants were judged fit to hold a credit licence, and so their applications were rejected. Mr Stacey has a number of serious convictions and Ms Henney did not inform the OFT of her association with Mr Stacey, which is itself a breach of the legislation'.

NOTES

1. The Consumer Credit Act 1974 requires most businesses that offer goods or services on credit or lend money or are involved in activities relating to credit or hire to be licensed by the OFT.

2. The OFT can refuse or revoke a licence if it decides that a trader is not fit to hold one.

3. It should be noted that proceedings under the Act are not the same as those of a court and the adjudicator's findings are not the same as convictions by a court. Therefore where the adjudicator finds that an offence has been committed or a provision of the statute has been contravened, it does not mean that the person concerned has been convicted under court proceedings of that offence or of that contravention.

4. Adjudicators issue and determine licensing Notices under the Consumer Credit Act. They do so on behalf of the OFT, but make individual and independent decisions on fitness based upon the contentions in a Notice, the evidence attached to a Notice and the representations of those to whom the Notices are addressed. Representations may be made in writing and at an oral hearing.

5. An adverse determination (a refusal to grant a licence or the revocation of an existing licence) can be appealed to the Secretary of State for Trade and Industry. The period for appeal runs until 28 October 2005.

6. The Consumer Credit Public Register is maintained by the OFT. The register documents traders that hold a licence and any action taken against them. It also details traders that have applied for a licence. Enquiries can be made to the Consumer Credit Licensing Bureau on 020 7211 8608.

7. The decision to refuse credit licence application number 567028, Tracey-Anne Elizabeth Henney, was published on 28 September 2005. The applicant's main place of business is 31 Easby Close, Western Downs, Stafford, Staffordshire ST17 9GD. 

8. The decision to refuse credit licence application number 567144, Lester John Stacey, was published on 28 September. The applicant's main place of business is A41 Sales Centre, Hinstock, Market Drayton, Shropshire TF9 2SY.

Back to:2005