HC Deb 14 June 1976 vol 913 cc63-4W
Mr. Ioan Evans

asked the Secretary of State for Prices and Consumer Protection if she will set out the consequences for unlicensed trading by those covered by the first tranche of licensing under the Consumer Credit Act 1974.

Mr. John Fraser

A person carrying on a business of debt-adjusting, debt-counselling, debt-collecting or the operation of a credit reference agency from 3rd August 1976 without a licence from the Director General of Fair Trading will be committing an offence and liable to a fine or imprisonment or both. In addition, agreements for the services of such a person whilst unlicensed will be unenforceable unless the Director General has, after application, made an order that such agreements shall be treated as if the trader was licensed. Someone making a valid application for a license before 3rd August 1976 will be deemed to have been granted a licence continuing in force until a licence is granted or, if the application is refused, until the end of the appeal period.