Licensees are required to notify the Director General when a change is made to the office of a licensee, a non-corporate organization or a partnership. This must be done within 21 days of the change appearing. Details of the new licences are published in the Consumer Credit Bulletin, the weekly newspaper of the Office of Fair Trading. A licence lasts 3 years and begins on the date indicated on the licence, not the date of issue. A person who engages in activities requiring a licence when he or she does not have a person commits a criminal offence. In addition, the agreements he has entered into are deemed unenforceable unless the Director General enters into direct force. [30] Section 75 protects consumers who pay with a credit card for goods valued at between $100 and $30,000 if the goods are not delivered or do not fit the description of the goods or if the condition or functionality of the goods has been misrepresered. This section provides that credit card issuers, in conjunction with the supplier, are held jointly responsible for compliance with the supply contract. [43] [44] The old commercial credit laws did not provide any mechanism for regulating and enforcing the rules, and the Consumer Credit Act licensing system was the first major regulatory process in UK consumer credit legislation. Licenses are required to carry out a consumer credit or consumer leasing transaction, with the exception of local authorities and entities authorized by an Act of Parliament to carry out consumer credit transactions. All other organizations must apply for a licence from the office of Fair Trading`s consumer credit arm. [27] Courts may also issue “time orders” providing for either the debtor to pay a sum owed to the creditor and to resolve any breach of the agreement by the debtor, except for non-payment of the money or both. These orders are made at the discretion of the courts following an application for an enforcement order.

[53] Time orders may also cover the legal derailment of leases or leases. [54] If the court considers the objects at issue or acting as collateral to be risk of injury or de-off-removal, they may issue protection orders that prevent the use of the property. Section 35 of the Hire-Purchase Act of 1965 was repealed by the Consumer Credit Act. [55] A license may be terminated with the death of the licensee, the licensee becomes bankrupt, the licensee becomes patient under the Mental Health Act of 1959, a bankruptcy contract under the 1914 Bankruptcy Act, in which the license is granted to an attorney , or a deal under the Deeds of Arrangement Act 1914, in which the licensee`s licensee is given to an agent. Agents. These provisions apply to both unincorporated individual entities and licensed partnerships. [31] These provisions do not cover entities, since the government has been informed, after consultation, that the liquidation and liquidation of an entity would cause problems with licensing, in part because the agency continues to act through a liquidator. [32] Creditors must ensure that the borrower has an appropriate explanation of the proposed credit contract, such as the specifics of the agreements, the costs and the consequences of default, in order to enable the borrower to assess whether the agreement corresponds to his or her needs and financial situation.