Consumer Credit Act 2006

45 Duties to notify changes in information etc.

After section 36 of the 1974 Act insert—

“36A Further duties to notify changes etc.

(1) Subsections (2) to (4) apply where a general notice under section 6(2) comes into effect.

(2) A person who is the licensee under a standard licence or who is the original applicant for a group licence shall, in relation to each relevant application which he has made and which was determined before the general notice came into effect, provide the OFT with any information or document—

(a) which he would have been required to provide with the application had the application been made after the general notice came into effect; and

(b) which the general notice requires to be provided for the purposes of this subsection.

(3) Any such information or document shall be provided within such period as may be specified in the general notice.

(4) Subsection (2) does not require a person to provide any information or document—

(a) which he provided in relation to the application by virtue of section 6;

(b) which he has previously provided in relation to the application by virtue of this section; or

(c) which he would have been required to provide in relation to the application by virtue of subsection (5) but for subsection (6).

(5) A person who is the licensee under a standard licence or who is the original applicant for a group licence shall, in relation to each relevant application which he has made, notify the OFT giving details if, after the application is determined, any information or document which he—

(a) provided in relation to the application by virtue of section 6, or

(b) has so provided by virtue of this section,

is, to any extent, superseded or otherwise affected by a change in circumstances.

(6) Subsection (5) does not require a person to notify the OFT about a matter unless it falls within a description of matters specified by the OFT in a general notice.

(7) A description may be specified for the purposes of subsection (6) only if the OFT is satisfied that the matters which would fall within that description are matters which would be relevant to the question of—

(a) whether, having regard to section 25(2), a person is a fit person to carry on a business under a standard licence; or

(b) whether the public interest is better served by a group licence remaining in effect than by obliging the licensees under it to apply separately for standard licences.

(8) A person who is the licensee under a standard licence or who is the original applicant for a group licence shall, in relation to each relevant application which he has made, notify the OFT about every error or omission—

(a) in or from any information or document which he provided by virtue of section 6, or which he has provided by virtue of this section, in relation to the application; and

(b) of which he becomes aware after the determination of the application.

(9) A notification for the purposes of subsection (5) or (8) shall be given within the period of 28 days beginning with the day on which (as the case may be)—

(a) the information or document is superseded;

(b) the change in circumstances occurs; or

(c) the licensee or the original applicant becomes aware of the error or omission.

(10) This section does not require a person to notify the OFT about—

(a) anything of which he is required to notify it under section 36; or

(b) an error in or omission from any information or document which is a clerical error or omission not affecting the substance of the information or document.

(11) In this section ‘relevant application’ means, in relation to a person who is the licensee under a standard licence or who is the original applicant for a group licence—

(a) the original application for the licence; or

(b) an application for its renewal or for its variation.”