Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
43. Grounds for refusal of licence
Feedback & supportThe Commission or the Registrar, as the case may be, may refuse the application for a licence on any of the following grounds:
Commission
“Commission” means the Consumer Credit Commission established under section 6;
the application was not made in accordance with this Act;
the applicant has failed to comply with any regulations, standards or guidelines, or other requirements under this
Act;
the applicant has failed to satisfy the Commission or the Registrar, as the case may be, that the applicant, its controller, its directors, its partners and its senior management, are fit and proper;
any document or information that is furnished by the applicant to the Commission or the Registrar, as the case may be, is false or misleading or from which there is a material omission; or
the Commission or the Registrar, as the case may be, is of the opinion that it would be contrary to the interests of the public to grant a licence to the applicant.
Where the Commission or the Registrar refuses an application under subsection (1)—
Registrar
“Registrar” means the registrar of Islamic credit providers appointed under paragraph 35(2)(a);
the Commission or the Registrar shall notify the applicant in writing of the refusal;
the refusal shall not affect the right of the applicant to make a fresh application after a period as may be specified by the Commission or the Registrar, as the case may be; and
there shall be no refund of the fee paid by the applicant.