Legal Notices

Restructuring and Insolvency - consumer credit licence

With effect from 1 April 2014, all Insolvency Practitioners, while acting as Insolvency Practitioners, are excluded from the Consumer Credit Licensing regime in respect of the activities of:

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  • debt adjusting;
  • debt counselling;
  • debt collecting;
  • debt administration; and
  • providing credit information services

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A similar exclusion applies when an insolvency practitioner is acting in ‘reasonable contemplation of appointment’.  In this case, the relevant activities are:

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  • debt adjusting
  • debt counselling; and
  • providing credit information services

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Note: The exclusions highlighted above also apply to staff working for the Insolvency Practitioner.

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