HC Deb 09 February 2000 vol 344 cc352-3

Amendments made: No. 158, in page 208, line 3, leave out

of his home state regulator and insert—

in which he has his head office No. 159, in page 210, line 2, leave out "13 or 14" and insert "12".

No. 160, in page 210, line 5, after "branch" insert—

(if it satisfies the establishment conditions) No. 161, in page 210, line 6, after "Kingdom" insert—

(if it satisfies the service conditions) No. 162, in page 210, line 9, at end insert—

( ) Sections 21, 39(1) and 147(1) of the Consumer Credit Act 1974 (business requiring a licence under that Act) do not apply in relation to the carrying on of a permitted activity which is Consumer Credit Act business by a firm which qualifies for authorisation as a result of paragraph 12, unless the Director General of Fair Trading has exercised the power conferred on him by section 177 in relation to the firm. ( ) 'Consumer Credit Act business' has the same meaning as in section 177.". No. 163, in page 210, line 15, leave out from beginning to "change" and insert—

make provision as to any". No. 164, in page 210, line 17, after "Kingdom" insert—

and as to the procedure to be followed in relation to such cases". No. 165, in page 210, line 34, at end insert—

( ) The activities identified in a notice of intention may include activities which are not regulated activities.". No. 166, in page 211, line 27, leave out "providing services" and insert "conducting business".

No. 167, in page 211, line 46, at end insert—

( ) The activities identified in a notice of intention may include activities which are not regulated activities.". No. 168, in page 212, line 28, leave out from beginning to "change" and insert—

make provision as to any". No. 169, in page 212, line 30, after "on" insert—

and as to the procedure to be followed in relation to such cases". No. 170, in page 212, line 36, at end insert— .—(1) Sub-paragraph (2) applies if a UK firm—

  1. (a) has a Part IV permission; and
  2. (b) is exercising an EEA right to carry on any Consumer Credit Act business in an EEA State other than the United Kingdom.
(2) The Authority may exercise its power under section 40 in respect of the firm if the Director of Fair Trading has informed the Authority that—
  1. (a) the firm,
  2. (b) any of the firm's employees, agents or associates (whether past or present), or
  3. (c) if the firm is a body corporate, a controller of the firm or an associate of such a controller,
has done any of the things specified in paragraphs (a) to (d) of section 25(2) of the Consumer Credit Act 1974. (3) 'Associate', 'Consumer Credit Act business' and 'controller' have the same meaning as in section 177. .—(1) Sub-paragraph (2) applies if a UK firm—
  1. (a) is not required to have a Part IV permission in relation to the business which it is carrying on; and
  2. (b) is exercising the right conferred by Article 18.2 of the second banking co-ordination directive to carry on that business in an EEA State other than the United Kingdom.
 (2) If requested to do so by the host state regulator in the EEA State in which the UK firm's business is being carried on, the Authority may impose any requirement in relation to the firm which it could impose if—
  1. (a) the firm had a Part IV permission in relation to the business which it is carrying on; and
  2. (b) the Authority was entitled to exercise its power under that Part to vary that permission.".—[Miss Melanie Johnson.]

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