131. Opportunity to make written representations

(1)

Where–

(a)

the Registrar or Commission proposes to take any action against a licensed credit provider by revoking or suspending its licence under section 50;

(b)

the Commission proposes to take any action against a registered credit service provider by deregistering or suspending it under section 67;

(c)

the Registrar or the Commission proposes to direct a licensed credit provider or registered credit service provider to remove its director, partner or senior management under subsection 46(6) or subsection 63(6); or

(d)

the Regulatory and Supervisory Authority proposes to take any other action against any person under subsection 106(3),

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the Registrar, Commission or Regulatory and Supervisory Authority, as the case may be, shall give such person an opportunity to make written representations before any decision is made.

(2)

Notwithstanding subsection (1) and except for paragraph (1)(d), the Registrar, Commission or Regulatory and

Supervisory Authority may—

(a)

first take the action or give the direction and the opportunity to make written representations shall be given immediately after the action has been taken or direction has been given if any delay in taking the action or giving the direction would be detrimental to the interests of any credit provider, credit service provider, credit consumer, the consumer credit industry or the public generally; and

(b)

confirm, amend or revoke the exercise of action taken or direction given under paragraph (a) in consequence of written representations made under that paragraph.

Terms defined in s 4

Commission
Defined · s 4
“Commission” means the Consumer Credit Commission established under section 6;
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credit
Defined · s 4
“credit” means any arrangement, agreement or facility as set out in subsection 5(2);
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credit consumer
Defined · s 4
“credit consumer” means any person as set out in subsection 5(1);
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credit provider
Defined · s 4
“credit provider” means a person who carries on a credit business where the person— (a) is licensed under Part V of this Act; (b) is permitted to do so under any other written law; (c) is subject to the Hire-Purchase Act 1967; or (d) is subject to the Consumer Protection Act 1999;
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credit service provider
Defined · s 4
“credit service provider” means a person who carries on a credit service business where the person— (a) is registered under Part V of this Act; (b) is registered to do so under the Capital Markets and Services Act 2007; or (c) is a permit holder under the Hire-Purchase Act 1967;
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director
Defined · s 4
“director” has the meaning assigned to it in the Companies Act 2016, and includes a reference to a person occupying or acting in the position of a director of a corporation, by whatever name called and whether or not validly appointed to occupy, or duly authorized to act in, such position;
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licence
Defined · s 4
“licence” means a licence granted under section 42;
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person
Defined · s 4
“person” includes an individual, any sole proprietorship, corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
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Registrar
Defined · s 4
“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);
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Regulatory and Supervisory Authority
Defined · s 4
“Regulatory and Supervisory Authority” means any body as set out under subsection 34(1);
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senior management
Defined · s 4
“senior management” means a person appointed by a corporation to manage any part of its business or having authority and responsibility for the credit business, credit service business or business decisions of the corporation, by whatever name called and includes the chief executive and chief financial officer;
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Report

Read on from s 132

131. Opportunity to make written representations

Terms defined in s 4

Schedules