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Licence - credit.
The Office of Fair Trading.
Contact: Health and Environment
Telephone: 01653 600666
Email: fshs.admin@ryedale.gov.uk
Last Updated: 13 July 2011
Where needed, a credit licence must be obtained from the Consumer Credit Licensing Bureau of the Office of Fair Trading under the Consumer Credit Act 1974.
Please note that this service is not provided by Ryedale District Council. Information on this service is provided by North Yorkshire County Council. Please select the link on the right for further information on their website.
The Consumer Credit Act 1974 requires most businesses that offer credit or lend money to consumers to be licensed by the Office of Fair Trading.
The Act includes where credit is arranged to finance the purchase of goods or services. Licensing arrangements may also be required by debt collectors, debt advisors and businesses that offer goods for hire or leasing. Trading without a licensing arrangement is a criminal offence and can result in a fine and/or imprisonment.
The Act also requires certain credit and hire arrangements to be set out in a particular way and to contain certain information.
North Yorkshire Trading Standards Service enforces this legislation and can assist businesses by: