Application Form for Authorisation as a Moneylender under the Consumer Credit Act, 1995, as amended ( the Act ). Renewal Applicant

Transcription

1 Application Form for Authorisation as a Moneylender under the Consumer Credit Act, 1995, as amended ( the Act ). Renewal Applicant April 2014

2 Contents Contents 1 Introduction 2 Part A: Details of Applicant 3 Part B: Details of District Court Districts 6 Part C: Background of Applicant 6 Part D: Product Details 15 Part E: Financial Information 18 Part F: Attachments Checklist 20 Part G: Declarations 22 1

3 Introduction PLEASE ENSURE THAT YOU READ ALL INSTRUCTIONS CAREFULLY BEFORE COMPLETION. An incorrectly completed form may cause delays for your application. Please note that all applications should be typed or completed in BLOCK CAPITALS. All questions must be completed before the application can be considered. If a question does not apply, please write Not Applicable (N/A) or None, as appropriate. Do not leave any blank spaces. If you are unable to submit any of the documentation requested below please provide an explanation as to why this is so. Do not delay in returning the completed application form, whilst waiting on the outstanding documentation. If insufficient space has been provided for a reply or if the answer is requested on a separate sheet, please provide that information on a separate sheet and refer to it in the space provided for your answer. Please ensure that any separate sheets are clearly marked with your name/name of the firm and referenced to the appropriate question. Any questions that have a YES and a NO box should be ticked as appropriate. Please ensure that all required signatures are provided. An unsigned application form will be immediately returned to the Applicant. The document Guidelines on completing and submitting a moneylending licence application should be read in full before submitting an application form. If you have any queries in relation to this application, please address them to: moneylending@centralbank.ie Telephone: (01) / (01) PLEASE RETURN THIS APPLICATION FORM (INCLUDING ALL SUPPORTING DOCUMENTATION) TO: Moneylending Unit Consumer Protection: Banking, Insurance, Investments & Policy Central Bank of Ireland PO Box 559 Dame Street Dublin 2 2

4 Part A: Details of Applicant 1. Details of current licence holder (if applicable): Name: Licence number: 2. Name of Applicant: 3. If the applicant is a sole trader, please provide: 3.1 Date of birth 3.2 Home address 4. Business/trading name, if any (to be used on licence): All business/trading names must be registered with the Companies Registration Office. Please include a certificate of registration of trading name in respect of each business/trading name that you wish to use. 5. Business address: 6. Is the premises at 5 above used as a residence by anyone? Yes No 3

5 7. Registered office address (if different to 5 above): 8. Contact Details: 8.1 Telephone number 8.2 Mobile number 8.3 Fax number 8.4 address 8.5 Website address 9. Is the firm a member of the Consumer Credit Association or any other trade body? Yes No 10. Please provide details in relation to where funding for consumer loans will be sourced: 4

6 11. How does the firm intend to attract clients/develop its client base (for example, advertising, referrals, personal contacts etc.)? 12. Please provide an estimated percentage of business the firm expects to conduct in each of the following categories: % Cash/Personal loans Goods Vouchers Other (e.g. services) 13. Please outline the nature of the proposed business, for example, cash loans or credit for goods (such as furniture, vehicles etc.): 14. Please outline how the firm proposes to operate, for example will collectors be employed, will payments be made by direct debits etc: If collectors are employed, an authorisation under section 97 of the Act may need to be provided to the collector and a copy of this should be provided as part of the applicant s renewal. 15. Does the firm intend to offer a home collection service? Yes No 5

7 Part B: Details of District Court Districts 16. Please complete the tables below in relation to the district court districts ( dcds ) in which your firm operates: Note: Please see Guidelines on completing and submitting a moneylending licence application for further information when completing this question. Location of court office District number covered by court office Court/areas district number serviced by court offices Part C: Background of Applicant For questions 17-32, please use a separate sheet if needed. 17. In the case of an applicant who is a sole trader or an applicant whose activities are directed by only one person, please supply details of a nominated person, with whom the Central Bank may communicate where necessary. This person could, for example, be a spouse/partner/solicitor/accountant etc: Title Forename Surname Telephone Number Address 6

8 *I confirm that I have obtained written confirmation of agreement from the nominee above. Mark with a tick 18. Please give details of all principals (i.e. director, CEO, secretary, manager, etc.) involved in running the business: Title Forename Surname Date of Birth Day/Month/Year Position in Organisation Home Address Title Forename Surname Date of Birth Day/Month/Year Position in Organisation Home Address 7

9 Title Forename Surname Date of Birth Day/Month/Year Position in Organisation Home Address 19. Please provide details of the Money Laundering Reporting Officer: Title Forename Surname Date of Birth Day/Month/Year Home Address 8

10 20. If the applicant is a limited company, please provide details of shareholders, if not previously named under question 18 above: Title Forename Surname Date of Birth Day/Month/Year Home Address Title Forename Surname Date of Birth Day/Month/Year Home Address Title Forename Surname Date of Birth Day/Month/Year 9

11 Home Address 21. Please provide details of each person that will be authorised to engage in the business of moneylending on your behalf (see also question 14): Title Forename Surname Date of Birth Day/Month/Year Home Address Districts allocated Title Forename Surname Date of Birth Day/Month/Year Home Address Districts allocated 10

12 Title Forename Surname Date of Birth Day/Month/Year Home Address Districts allocated 22. Has the applicant or any person mentioned in this form, ever been refused a licence or an authorisation by a regulatory authority? If yes, please give full details: Details Yes No Name: 23. Is the applicant, or any person mentioned in this form, any other application(s) currently being considered by the Central Bank (including any other applications submitted at the same time as this application)? If yes, please give full details: Details Yes No Name: 11

13 24. Has the applicant, or any person mentioned in this form any current or previous authorisations from the Central Bank (or any of its predecessors) and/or any other regulatory authority? If yes, please give details: Yes No Name: Details 25. Has the applicant, or any person mentioned in this form, previously held a senior/management position(s) in a Financial Services entity(s)? If yes, please provide full details: Details Yes No Name: 26. Has the applicant or any person mentioned in this form, been involved in a business which previously went into liquidation or receivership? If yes, please give full details: Details Yes No Name: 27. Has the applicant, or any person mentioned in this form, or any business with which they are connected, been convicted of a criminal offence? If yes, please give details: Yes No Name: 12

14 Date of Birth Day/Month/Year Details of offence to include also any court details. 28. Has the applicant, or any person mentioned in this form, been disqualified by order of the court from holding a licence? If yes, please give details: Details Yes No Name: 29. Is the applicant, or any person mentioned in this form, an undischarged bankrupt or have they been declared bankrupt in the past five years? If yes, please give details: Details Yes No Name: 30. Has the applicant, or any person mentioned in this form, or any business with which they were connected, been convicted during the previous five years of an offence for contravening Section 98 of the Act? If yes, please give details: Details Yes No Name: 13

15 31. Has a court decided, pursuant to the Act, during the previous five years that the cost of credit in an agreement between the applicant, or any person mentioned in this form, and the consumer was excessive? If yes, please give details: Yes No Name: Details 32. Is the applicant, or any person mentioned in this form, the holder of any of the following? If so, please provide details: (a) Bookmaker s licence Yes No (b) Licence for the sale of intoxicating liquor Yes No (c) Gaming licence Yes No (d) Moneylender s licence Yes No (e) Pawnbroker s licence Yes No Details 14

16 Part D: Products Details 33 a) Please provide the maximum APR proposed to be charged by your firm and complete the following. (Please fill in the table below for the product that will attract the maximum APR only.) Loan Details: 1. Type of loan 2. Amount of loan (sample) 3. Period of loan (weeks/months) 4. Interest charge 5. Collection charge 6. Any other charge - please specify 7. Total cost of loan 8. APR (annual percentage rate) 9. APR including collection charge 10. Weekly/monthly repayment amount 11. Cash cost for each 100 borrowed 12. Percentage cost per 100 borrowed (%) 33 b) Please provide details of why/how you decided on this maximum APR: 34 a) Please provide the maximum Cost of Credit proposed to be charged by your firm and complete the following. (Please fill in the table below for the product what will attract the maximum Cost of Credit only.) Cost of credit is calculated by expressing all charges (including interest, collection and other charges) as a percentage of the amount of the loan. 15

17 Loan Details: 1. Type of loan 2. Amount of loan (sample) 3. Period of loan (weeks/months) 4. Interest charge 5. Collection charge 6. Any other charge - please specify 7. Total cost of loan 8. APR (annual percentage rate) 9. APR including collection charge 10. Weekly/monthly repayment amount 11. Cash cost for each 100 borrowed 12. Percentage cost per 100 borrowed (%) 34 b) Please provide details of why/how you decided on this maximum cost of credit: 35 Please complete the table below, in relation to all product types that the firm intends to offer: For example: If the firm intends to offer three types of loans (26 week, 34 week and 52 week terms), provide details for all three types of loans. It is important to note that the products listed below will form the basis of the firm s licence appendix and the firm is permitted to offer only the product(s) specified in its licence appendix. This restriction permits the firm to offer: 1. loans of different amounts, provided that the total cost per 100, collection charge per 1 and APR are not exceeded; and 2. variations on the terms of the loan in exceptional cases 1, where the total cost per 100, collection charge per 1 and APR are not exceeded 1 Exceptional means less than 10% per annum of the total number of agreements entered in to. 16

18 Product Details: 1. Type of loan 2. Amount of loan (sample) 3. Period of loan (weeks/months) 4. Interest charge 5. Collection charge 6. Any other charge - please specify 7. Total cost of loan 8. APR (annual percentage rate) 9. APR including collection charge 10. Weekly/monthly repayment amount 11. Cash cost for each 100 borrowed 12. Percentage cost per 100 borrowed (%) 36. Approximately how many, if any, complaints has your firm received in relation to the total cost of credit? Please give details: 37. Approximately how many, if any, complaints has your firm received in total in the last 12 months? Please give details: 17

19 Part E: Financial Information Financial year ending 38. Number of loans and consumers Cash Goods Number Number of Value Number Number of Value of loans/ consumers of loans/ consumers accounts accounts Loans due at start of period: Plus new loans advanced during period: Minus loans repaid during the period: Equals loans outstanding at end of period: 18

20 39. Income and Expenditure Figures Total income for the period Total expenditure for the period Most Recent Previous Financial Financial Year Year Surplus/deficit of income over expenditure 40. Bad debts written off: Total amount of bad debts written off: Most Recent Financial Previous Financial Year Year 41. Provision for bad and doubtful debts Most Recent Financial Previous Financial Year Year Balance sheet provision for bad and doubtful debts at year end: Notes 1. Figures should relate to your most recent financial year/previous financial year as requested. 2. Figures should be shown separately for each licensed business. 3. Figures should only relate to the provision of credit. 19

21 Part F: Attachments Checklist Please provide original documents where possible in respect of all supporting documentation. All original supporting documentation will be returned to the applicant as soon as possible. If you are unable to provide the original document of any of the required attachments, please provide a written explanation of why this is so. You must submit all of the following documentation as part of the firm s application. 1. Current (i.e. most recently issued and currently valid) original Revenue tax clearance certificate This certificate must be issued to the applicant. If the applicant is a sole trader it should be issued to the individual. If the applicant is a limited company, it should be issued to the company. If the applicant is a partnership, the certificate can be issued either to the partnership as a single entity or each partner can be issued a separate certificate. An application for the tax clearance certificate is available from 2. A copy of the Certificate of Incorporation If the applicant is a limited company, a Certificate of Incorporation issued by the Companies Registration Office must be provided. Please contact the Companies Registration Office ( if you have any queries in relation to your Certificate of Incorporation. 3. A copy of the Business Name Registration Certificate (s) If applicable, a Business Name Registration certificate issued by the Companies Registration Office must be supplied in relation to all trading names (different to the legal name) that the applicant wishes to use in relation to its moneylending business. Please contact the Companies Registration Office ( if you have any queries in relation to your business name registration certificate. 4. Written confirmation as to whether or not in your opinion, all terms and conditions comply with applicable legislation. Please see Guidelines on completing and submitting a moneylending licence application for further information regarding this. 5. A copy of all credit agreements to be used (including all information required by regulation 13 of S.I. 2010/281 The European Communities (Consumer Credit Agreements) Regulations These should include details of the terms and conditions offered by the firm. 6. A copy of a repayment book which is in compliance with section 100 of the Act. 20

22 7. A copy of the newspaper advertisement of your firm s intention to apply for a Moneylenders licence. Please see Guidelines on completing and submitting a moneylending licence application enclosed for further information regarding this. 8. A sample form of authorisation for collectors (if applicable) which is in compliance with section 97 of the Act. 9. A copy of audited accounts/returns of income/ projected accounts. In the case of UK companies, please provide audited UK accounts and unaudited accounts for the Irish section of the business. Where possible the accounts should relate to moneylending business only. 10. A copy of the firm s Standard European Consumer Credit Information Form ( SECCI ) which is in compliance with regulation 8 of S.I. 2010/281 The European Communities (Consumer Credit Agreements) Regulations

23 Part G: Declarations I declare that the information contained in this application is true, correct and complete. Full name Signature Position in Company Date If the application does not include the required signature, it will be returned to the applicant immediately. If the applicant is a sole trader Part G should be signed by the sole trader. If the applicant is a limited company, Part G should be signed by one of the directors of the company. If the applicant is a partnership, Part G should be signed by one of the partners. 22