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OFT conducts 267 licensing actions in first quarter of 2004

The Office of Fair Trading has conducted 267 licensing actions in the first quarter of 2004.

The OFT refused six consumer credit licences applications, revoked six existing licences and granted one consumer credit licence application in different terms between January 1 and March 31. A further 23 minded to revoke or refuse notices were issued in the period in addition to 59 warning and advisory letters. A further 172 applications were withdrawn.

Financial service providers had the most adverse adjudications with five refusals or revocations. Close behind was the motor trade which had four licence refusals. Other businesses whose licences were refused or revoked included a home improvements business, a mobile phone trader, a wholesale electrical goods and clothes supplier. A loan provider was granted a licence application in different terms.

Under the Consumer Credit Act 1974 businesses that are involved in consumer credit or hire must have a consumer credit licence.

Some of the fitness issues taken into account when revoking and refusing licences during this period included convictions for assault, sending grossly offensive material, unlicensed trading, importing drugs, obtaining property by deception and supplying false information on licence applications.

The OFT carried out a total of 1,119 licensing actions in 2003.


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