# The Consumer Credit (Termination of Licences) (Amendment) Regulations 1981, Note: Explanatory note


Section 37(1) of the Consumer Credit Act 1974 and the Consumer Credit (Termination of Licences) Regulations 1976 provide for the termination of a consumer credit licence upon the occurrence of certain specified events.
These Regulations amend the above Regulations and provide for an additional terminating event. They make it clear that a licence can be voluntarily relinquished by the licensee and can terminate upon receipt by the Director General of Fair Trading of a notice in writing. The Regulations provide that such termination of the licence will be deferred for one month after the terminating event.

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Source: https://www.legislation.gov.uk/uksi/1981/614/note (the official version)
Page: https://openlegislation.uk/consumer-credit-termination-of-licences-amendment-regulations-1981/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.