(1) An agreement for the services of a person carrying on an ancillary credit business (the "trader"), if made when the trader was unlicensed, is enforceable against the other party (the "customer") only where the OFT has made an order under subsection (2) which applies to the agreement.
(2) The trader or his successor in title may apply to the OFT for an order that agreements within subsection (1) are to be treated as if made when the trader was licensed.
(3) Unless the OFT determines to make an order under subsection (2) in accordance with the application, it shall, before determining the application, by notice-
(a) inform the trader, giving its reasons, that, as the case may be, it is minded to refuse the application, or to grant it in terms different from those applied for, describing them, and
(b) invite the trader to submit to the OFT representations in support of his application in accordance with section 34.
(4) In determining whether or not to make an order under subsecti