Author: Jason Williams
Published: October 28, 2016
Reading time: 1 minute
This article is 5 years old.
Read our disclaimer keyboard_arrow_down
This website content is intended as a general guide to law as it applies to the motor trade. Lawgistics has taken every effort to ensure that the contents are as accurate and up to date as at the date of first publication.
The laws and opinions expressed within this website may be varied as the law develops. As such we cannot accept liability for or the consequence of, any change of law, or official guidelines since publication or any misuse of the information provided.
The opinions in this website are based upon the experience of the authors and it must be recognised that only the courts and recognised tribunals can interpret the law with authority.
Examples given within the website are based on the experience of the authors and centre upon issues that commonly give rise to disputes. Each situation in practice will be different and may comprise several points commented upon.
If you have any doubt about the correct legal position you should seek further legal advice from Lawgistics or a suitably qualified solicitor. We cannot accept liability for your failure to take professional advice where it should reasonably be sought by a prudent person.
All characters are fictitious and should not be taken as referring to any person living or dead.
Use of this website shall be considered acceptance of the terms of the disclaimer presented above.
The Financial Conduct Authority (FCA) replaced the Office of Fair Trading some years ago and in doing so, took control of licensing (now known as granting permissions) to those providing consumer credit.
In recent weeks they have publically “named and shamed” six 2nd hand car companies who have had their permissions revoked for non compliance – mainly failing to provide their returns information.
However, look a bit further and perhaps not all is what it seems. For of the six car dealers who had their permission revoked, 5 didn’t have a website that the writer could find. Look on Companies House website and 2 of them have made applications to be struck off as a Limited Company!
And so whilst the FCA revoked the permission of one those companies because of a failure to “notify the authority of a change in the address and telephone number of its principal place of business and has failed to deal openly and cooperatively with the authority in not providing up-to-date contact details” – it is simply a case that they’ve simply stopped trading?!
Taking something away from a non-existent entity is hardly worth shouting about – is it?