Section 93 of the Act of 1995 is amended -

(a) by the substitution of the following subsection for subsection (1):

"(1) The Bank may grant to an applicant a high cost credit provider’s licence authorising the applicant to engage in the provision of high cost credit on such terms and conditions as it thinks fit, but only after considering all objections made in respect of the application under subsection (2).",

(b) by the substitution of the following subsection for subsection (2):

"(2) A person who intends to apply for a high cost credit provider’s licence shall before making such application cause to be published, in a national newspaper published and circulating in the State, a notice of the person’s intention.",

(c) by the deletion of subsection (4),

(d) in subsection (5) -

(i) by the substitution of the following paragraph for paragraph (e):

"(e) details of charges not included in the cost of credit;",

and

(ii) by the deletion of paragraph (g),