Clause 44 - Provision of information etc. by applicants
Consumer Credit Bill
12:00 pm
Charles Hendry (Shadow Minister, Trade & Industry; Wealden, Conservative)
My colleagues and I think that the provisions are sensible and we support them in general, but can the Minister clarify just one small aspect? What happens if a notification of a change or an error is not made within the 28 days as specified? What penalties can be imposed? Does the applicant have the right to appeal against a decision to impose a penalty or a fine in such circumstances? In general, we support the need for information to be up to date, but what would happen if somebody did not fulfil their obligations within the time scale? Does the OFT have any powers to shorten or lengthen the time if it felt that another time scale would be more appropriate?