Clause 31 - Variation of standard licences etc.
Consumer Credit Bill
9:25 am
The Parliamentary Under-Secretary of State for Trade and Industry (Mr. Gerry Sutcliffe):
I beg to move amendment No. 3, in clause 31, page 24, line 2, leave out subsection (8) and insert—
'''(8) Subsection (1) shall have effect in relation to a standard licence as if an application could be made for the renewal or further renewal of the licence on the same terms (except as to expiry) even if such an application could not be made because of provision made in a general notice under section 24A(5).
(9) Accordingly, in applying subsection (1AA) of section 25 in relation to the licence for the purposes of this section, the OFT shall treat references in that subsection to the description or descriptions of business in relation to a type of business as references to the description or descriptions of business included in the licence in relation to that type of business, notwithstanding that provision under section 24A(5).''.'.