(1) An application for a standard licence shall, in relation to each type of business which is covered by the application, state whether the applicant is applying -
(a) for the licence to cover the carrying on of that type of business with no limitation; or
(b) for the licence to cover the carrying on of that type of business only so far as it falls within one or more descriptions of business.
(2) An application within subsection (1)(b) in relation to a type of business shall set out the description or descriptions of business in question.
(3) References in this Part to a type of business are references to a type of business within subsection (4).
(4) The types of business within this subsection are -
(a) a consumer credit business;
(c) a business so far as it comprises or relates to credit brokerage;
(d) a business so far as it comprises or relates to debt-adjusting;
(e) a business so far as it comprises or relates to debt-counselling;