Clause 34 - Definite and indefinite licences
Consumer Credit Bill
11:30 am
Amendments made: No. 21, in clause 34, page 29, line 4, at end insert—
‘(1E)Where a licence which has effect indefinitely is to be varied under section 30 or 31 for the purpose of limiting the licence’s duration, the variation shall provide for the licence to expire—
(a)in the case of a variation under section 30, at the end of such period from the time of the variation as is set out in the application for the variation; or
(b)in the case of a variation under section 31, at the end of such period from the time of the variation as the OFT thinks fit;
but a period mentioned in paragraph (a) or (b) shall not exceed the prescribed period.’.
No. 22, in clause 34, page 29, line 13, leave out ‘(1D)’ and insert ‘(1E)’.—[Mr. Sutcliffe.]