Part III Licensing of Credit and Hire Businesses

Renewal, variation, suspension and revocation of licences

31 Compulsory variation.

1

Where at a time during the currency of a licence the F1OFT is of the opinion that, if the licence had expired at that time, F2it would, on an application for its renewal or further renewal on the same terms (except as to expiry), have been minded to grant the application but on different terms, and that therefore the licence should be varied, F2it shall proceed as follows.

2

In the case of a standard licence the F1OFT shall, by notice—

a

inform the licensee of the variations the F1OFT is minded to make in the terms of the licence, stating F3its reasons, and

b

invite him to submit to the F1OFT representations as to the proposed variations in accordance with section 34.

3

In the case of a group licence the F1OFT shall—

a

give general notice of the variations F4it is minded to make in the terms of the licence, stating F5its reasons, and

b

in the notice invite any licensee to submit to F6it representations as to the proposed variations in accordance with section 34.

4

In the case of a group licence issued on application the F1OFT shall also—

a

inform the original applicant of the variations the F1OFT is minded to make in the terms of the licence, stating F7its reasons, and

b

invite him to submit to the F1OFT representations as to the proposed variations in accordance with section 34.

5

If the F1OFT is minded to vary a group licence by excluding any person (other than the original applicant) from the group by name the F1OFT shall, in addition, take the like steps under section 28 as are required in the case mentioned in that section.

6

General notice shall be given that a variation of any group licence has been made under this section.

7

A variation under this section shall not take effect before the end of the appeal period.