Section 194: General grounds on which power of intervention is exercisable
394.This section sets out the grounds on which the Authority may exercise its power of intervention. The 4 grounds are:
where it appears to the Authority that there has been, or is likely to be, some contravention of a rule or other requirement imposed by the Authority in accordance with the division of responsibility between home and host State under the appropriate single market directive;
where it appears to the Authority that the authorised person has knowingly or recklessly misled the Authority;
where it appears to the Authority that it is desirable to exercise the powers in order to protect customers or potential customers; or
where the incoming EEA firm is carrying on consumer credit business in the United Kingdom under their passport and the DGFT has informed the Authority that the person has done any of the things listed in section 25(2) of the CCA 1974. These are factors to be taken into account by the DGFT in deciding whether a person is fit and proper to hold a consumer credit licence, and they cover contraventions of that Act, offences involving fraud, dishonesty or violence, practising racial or other forms of discrimination, and engaging in deceitful, oppressive, unfair or improper business practices.