Date-stamp loading
Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 26 July 2013 - onwards
  Version 4 of 4    

Schedule 16 Prohibitions and Restrictions Imposed by Office of Fair Trading

Omitted from 26 July 2013

Section 203(8).

Preliminary

1. In this Schedule -

"appeal period" has the same meaning as in the Consumer Credit Act 1974 [1974 c. 39.];

"prohibition" means a consumer credit prohibition under section 203;

"restriction" means a restriction under section 204.

    Notice of prohibition or restriction

    2.

    (1) This paragraph applies if the OFT proposes, in relation to a firm -

    (a) to impose a prohibition;

    (b) to impose a restriction; or

    (c) to vary a restriction otherwise than with the agreement of the firm.

    (2) The OFT must by notice -

    (a) inform the firm of its proposal, stating its reasons; and

    (b) invite the firm to submit representations in accordance with paragraph 4.

    (3) If the OFT imposes the prohibition or restriction or varies the restriction, the OFT may give directions authorising the firm to carry into effect agreements made before the coming into force of the prohibition, restriction or variation.

    (4) A prohibition, restriction or variation is not to come into force before t

    Comparing proposed amendment...