Explanatory note

This Order regulates the carrying out of certain functions of the Director General of Fair Trading under the Consumer Credit Act 1974 relating to the provision of consumer credit, consumer hire and ancillary credit business. The functions concerned are—

(a) the hearing by the Director under section 34(1) of that Act of representations in relation to determinations which he is minded to make about the issue, renewal, variation, suspension and revocation of licences and about rendering enforceable certain agreements which would otherwise not be enforceable (articles 3 and 4);

(b) the making of determinations under sections 29(5) and 32(5) of that Act (which confer on the Director a power to authorise a licensee to carry into effect agreements made by him before the expiry, revocation or suspension of the licence) (article 5); and