Mr. Jim Callaghanasked the Secretary of State for Prices and Consumer Protection if he will make a statement about the implementation of the Consumer Credit Act.
§ Mr. John FraserI have made an order under which the licensing provisions of the Act will apply to credit brokerage businesses from 1st July 1978. The order will not, however, apply to non-corporate credit brokers who only make introductions resulting in the making of certain regulated agreements for credit not exceeding £30. I have considered it desirable to defer licensing in respect of such brokers.