division_name: Consumer Credit Bill
motion: <p pid="b.142.2/1" pwmotiontext="moved">moved Amendment No. 2:</p>
  
  <p class="indent" pid="b.142.2/2" pwmotiontext="moved">After Clause 37, insert the following new clause&#8212;</p>
  
  <p pid="b.142.2/3" pwmotiontext="moved">"OFT'S GENERAL DUTIES</p>
  
  <p pid="b.142.2/4" pwmotiontext="moved">After section 1 of the 1974 Act insert&#8212;</p>
  
  <p pid="b.142.2/5" pwmotiontext="moved">"OFT's general duties</p>
  
  <p pid="b.142.2/6" pwmotiontext="moved">(1) In discharging its functions under this Act to regulate the conduct of licences, the OFT must, so far as is reasonably possible, act in a way&#8212;</p>
  
  <p pid="b.142.2/7" pwmotiontext="moved">(a) which is compatible with the regulatory objectives; and</p>
  
  <p pid="b.142.2/8" pwmotiontext="moved">(b) which the OFT considers most appropriate for the purpose of meeting those objectives.</p>
  
  <p pid="b.142.2/9" pwmotiontext="moved">(2) The regulatory objectives are&#8212;</p>
  
  <p pid="b.142.2/10" pwmotiontext="moved">(a) the protection of consumers;</p>
  
  <p pid="b.142.2/11" pwmotiontext="moved">(b) the promotion of an efficient and innovative consumer credit industry; and</p>
  
  <p pid="b.142.2/12" pwmotiontext="moved">(c) maintaining a competitive market in consumer credit.""</p>
  
  <p pid="b.148.1/1" pwmotiontext="considered">On Question, Whether the said amendment (No. 2) shall be agreed to?</p>
  
  <p pid="b.148.1/2" pwmotiontext="divided">Their Lordships divided: Contents, 132; Not-Contents, 150.</p>