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OFT decides to revoke credit licence of Devon debt manager

212/05    8 November 2005

The OFT has decided to revoke the consumer credit licence of Tracie Irene Bell, a Dawlish-based debt manager.

Tracie Bell’s licence has been revoked because she and her associates, including Dennis Bell, gave the OFT false or misleading information, including failing to declare the convictions of Dennis Bell (which are now spent), failed to inform the OFT of various appointments and resignations of company directors, failed to inform a change of registered office address of a licensed business (see note 9), and misused the OFT name. Despite an earlier warning to Mrs Bell, an associate continued to use the words ‘Licensed by the OFT’ without authorisation.

This revocation follows the issuing of a Minded to Revoke Notice in April 2005, which set out the OFT’s concerns.

Scunthorpe-based Heating Efficiency Systems Ltd (HESL) has retained its licence but given the OFT undertakings. Mr Dennis Bell was the controller of HESL by virtue of his shareholding, but this is no longer the case. HESL has promised to inform the OFT if Mrs Tracie Bell, Mr Dennis Bell, or Ms Beverley Bell are appointed as officers of the company, become concerned in its management or acquire a controlling shareholding in the company.

In considering fitness to hold a credit licence, 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:

'Tracie Bell has been judged by an Adjudicator to be unfit to hold a credit licence. She and her associates recklessly gave misleading information to the OFT on a number of occasions. This prevented the OFT, as regulator, from properly protecting consumers leaving them at risk.'

On 10 October 2005 the Department of Trade and Industry received a notice of appeal from the OFT’s determination by Tracie Bell. Her licence will remain valid until the appeal is heard and until any other avenues of appeal have been exhausted (see note 5).

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).

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 determination to refuse application number 295144 was published on 15 September 2005. The licensee was Tracie Irene Bell whose business operated from Barclay House, Hospital Hill, Dawlish, EX7 9NS. Mrs Bell is appealing the decision.

8. The decision to allow Heating Efficiency Sytems Ltd to retain their consumer credit licence number 515747, subject to certain undertakings, was published on 15 September 2005.

9. Minded to revoke and refuse notices were also issued to the following licensees/applicants associated with Mrs Bell: RK Marbles Ltd – application was withdrawn before determination; BBR Insolvency Ltd and BKR Haines Watt Bell – licences were surrended before determination; Beverley Becke Ltd and Cottam Bell Partnership – licences lapsed before determination.

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