§ Mr. McCrindleasked the Secretary of State for Prices and Consumer Protection (1) if she is satisfied with the operation of the Consumer Credit Act so far as it relates to the registration of credit intermediaries; and if she will make a statement;
(2) if she will reconsider the definition of a fit and proper person in relation to a credit intermediary under the Consumer Credit Act;
(3) if she is satisfied that the granting of a credit intermediaries' licence under the Consumer Credit Act is sufficient protection to the consumer; and if she will make a statement.
Mr. Alan WilliamsThe Consumer Credit Act provides not only for licensing of credit brokers and other ancillary businesses but also for the general regulation of their conduct. I have no reason to think, that when fully effective, it will not provide sufficient protection for the consumer. However, the Director General of Fair Trading is responsible for advising the Secretary of State about the working of the Act and the hon. Member may care to write to him about any particular point he has in mind.
§ Mr. McCrindleasked the Secretary of State for Prices and Consumer Protection what is her estimate of the number of credit intermediaries who will fail to obtain a licence under the Consumer Credit Act.
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Mr. Alan WilliamsThere is no reliable way of making such an estimate. However, the Director General of Fair Trading is responsible for licensing under the Act and the hon. Member may care to write to him on any particular point he has in mind.