All applications for Consumer Credit Licences or their renewal ask whether or not the Company has a Controller. This is defined by the Act as ‘a person in accordance with whose directions instructions the Directors are accustomed to act’, OR ‘a person who is entitled to exercise control over one third or more of the voting power at a General Meeting’.
So the controller of the Company may be the Directors, a single Director holding more than 33% share capital, or any other person who is not Director but holds over 33% shares or a person who, with an associate or associates between them holds 33% or more shares.
In the case of a Sole Proprietor or Partnership the controller may be a financial investor, wife or husband, or a partner who can influence the business.
Some of these provisions were brought in to stop a person who has convictions or are unfit to hold a licence putting the licence in ‘the wife’s name’ and running it themselves. The husband is an associate and therefore the application stands or falls on both or either of their previous records.
Impression works with businesses across the automotive aftermarket supply chain such as parts suppliers, warehouse distributors, motor factors and independent garages. Covering all aspects of automotive aftermarket marketing, including social media, event management, customer newsletters and PR, Impression is able to quickly establish itself within a client’s business and work towards their objectives.
