Consumer Credit Licence Cover
The Society holds a Group Consumer Credit Licence covering the activities of all its members.
Extract from the licence certificate:
The Office of Fair Trading in pursuance of the powers conferred upon it by the Consumer Credit Act 1974 having granted a group licence to:
The Law Society of Scotland, 26 Drumsheugh Gardens, Edinburgh EH3 7YR
hereby varies that licence to amend the tYpes of business included in this licence by adding the following types of business:
'G Debt administration' and 'H1 Provision of credit information services (including credit repair)'.
The group licence is in respect of all solicitors who, for the time being, hold a practising certificate which is in force issued by the Law Society of Scotland under section 14 of the Solicitors (Scotland) Act 198O, or whose certificate, so issued and in force, expired by effluxion of time under section 17(3) of that Act within the preceding calendar month, to carry on the business of:
A Consumer Credit,
C Credit Brokerage
D Debt-Adjusting and Debt-Counselling.
E Debt Collecting
G Debt Administration
H1 Provision of credit information services (including credit repair)
This group licence is limited to activities arising in the course of practice as a solicitor.
The OFT have confirmed they have received our valid renewal application and our current licence remains in force until such time as they complete their consideration of our renewal application. We are currently negotiating a final position with them in relation to our Fitness and Compliance Plan.
