Re: Howard Cohan Cockroaches and Co.
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Originally posted by dambuster
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Originally Posted by charitynjw
From the FCA
Our guidance under regulated credit agreement as set in the Perimeter Guidance (PERG 2.8.14ZA confirms;
A person who is not an authorised person and exercises, or has the right to exercise, the lender's rights and duties under a regulated credit agreement does not require authorisation to do so where he:
1. (1) arranges for another person to do so and the other person is anauthorised person with permission to carry on that regulated activity;
2. (2) does so for up to one month after an arrangement of the kind in (1) comes to an end; or
3. (3) does so under an agreement with an authorised person who haspermission to carry on that regulated activity.
Further information on Regulated credit agreementscan be accessed at PERG 2.8.14ZA.
as debt has been paid off by hoist no right of Leander exist because original lenders rights have ended on payment of debt hoist can not be a lender
The debt hasn't been paid off, it has been sold (assigned) as a thing in action.
The debt still exists, even though it may prove to be unenforceable.
and as hoist are unlicensed company the licensed rights that did existed with first company are regulated so they cant be transferd
From the FCA
Our guidance under regulated credit agreement as set in the Perimeter Guidance (PERG 2.8.14ZA confirms;
A person who is not an authorised person and exercises, or has the right to exercise, the lender's rights and duties under a regulated credit agreement does not require authorisation to do so where he:
1. (1) arranges for another person to do so and the other person is anauthorised person with permission to carry on that regulated activity;
2. (2) does so for up to one month after an arrangement of the kind in (1) comes to an end; or
3. (3) does so under an agreement with an authorised person who haspermission to carry on that regulated activity.
Further information on Regulated credit agreementscan be accessed at PERG 2.8.14ZA.
as debt has been paid off by hoist no right of Leander exist because original lenders rights have ended on payment of debt hoist can not be a lender
The debt hasn't been paid off, it has been sold (assigned) as a thing in action.
The debt still exists, even though it may prove to be unenforceable.
and as hoist are unlicensed company the licensed rights that did existed with first company are regulated so they cant be transferd
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